Connect with us

Important

Vlad Plahotniuc investigated in Romania for organized crime, blackmailing, money laundering and fraud

Published

on

The Democrat leader and oligarch, Vlad Plahotniuc, is reportedly investigated by Romania’s Directorate for Investigating Organized Crime and Terrorism based on the testimony delivered by the Moldovan businessman Veaceslav Platon in August 2016.

Buying shares together in Victoriabank and now-inexistent Banca de Economii

According to the leaked testimony and the corresponding prosecution order, Platon accused Plahotniuc of forcing him to participate in the acquisition of shares of Victoriabank, Banca de Economii, SA Asito, Victoria Asigurări, SA Alfa Engineering. Moreover, Plahotniuc is said to have influenced the National Bank of Moldova to block one major shareholder of Victoriabank that allowed the selling of his shares later on the market with a lower price. The Democrat oligarch allegedly got the shares in his possession through proxies like the Parliament speaker Andrian Candu, his close partner Sergey Yaralov, Vladimir Andronache and other persons from the circle of the Democratic Party of Moldova.

Platon, condemned in Moldova to 18 years of prison for frauds and money laundering, complained to the Romanian prosecutors that his multiple letters of complaints and demands were ignored by the National Bank and the investigation organs in Moldova, presumably under Vlad Plahotniuc’s influence.

Plahotniuc’s three citizenships and changing identities

In his confession, Veaceslav Platon, known also as Kobalev, underlined that Plahotniuc used several identities in the Republic of Moldova (Vladimir Plahotniuc), Romania (Vlad Plahotniuc, Vlad Ulinici), and the Russian Federation (Vladimir Plahotniuc). The oligarch was and probably is still a citizen of all three states.

Based on Platon’s statements, Romanian Prosecutor Raluca Negulescu launched a penal investigation on the fact of constituting an organized crime group, blackmailing, fraud and money laundering. The investigation is possible because Plahotniuc is a Romanian citizen. The order of launching penal investigation against Vlad Plahotniuc dates back to 17 April 2017.

Platon’s testimony was submitted on 3 August 2016, when Plahotniuc’s former business partner was under arrest in Kyiv, Ukraine.

Romania’s Directorate for Investigating Organized Crime and Terrorism has not issued a statement on the leaks yet.

What did Platon do (according to the Moldovan prosecution system)?

Veaceslav Platon was accused of benefiting from high-risk loans from the former Banca de Economii in the value of 800 million lei: 130 million lei, 12 million USD and 5 million euros. He was arrested by the SBU of Ukraine on July 25th. Businessman Veaceslav Platon was extradited from Ukraine to Moldova on August 29th, 2016 with a charter flight, for which the Moldovan Interior Ministry claimed to have paid only 1690 US dollars. Some say that the half-legal extradition was personally ordered by the Democrat leader and oligarch Vlad Plahotniuc. Anticorupție found that the charter flight used for the extradition cost around 15 thousand US dollars.

Who is Vlad Plahotniuc, de facto?

Despite the fact he holds no governmental position, Vlad Plahotniuc is known for his control over the Government, judiciary branch, prosecution system and the anti-corruption bodies through his proxy Democratic Party, vassal-parties and particular persons in the top of management of Moldovan state institutions. Vlad Plahotniuc is often called the one and only oligarch left in Moldova, the grey eminence or the puppeteer of Moldovan politics. He was officially elected as the leader of the Democratic Party at the 8th Congress in December 2016.

Economy

Moldova likely to pay $58 million debt to Platon-associated energy company, case returns to Paris Appeal Court

Published

on

The government of the Republic of Moldova is likely to be obliged to pay a $58 million award to Komstroy, an Ukrainian energy company closely associated to now-imprisoned oligarch Veaceslav Platon.

As Law360 reports, the award was reconfirmed by the U.S. District Judge Christopher R.Cooper on 23 August, when Moldova was rejected the claim that it had “been denied due process” in an arbitration case within an ad-hoc arbitral tribunal in Paris. Back in 2013, the tribunal concluded that Moldova had violated an investment commitment under the Energy Charter Treaty (ECT) by not paying debts owned to Komstroy’s predecessor (LLC Energoalliance- based in Ukraine) on the deliverance of electric power in 1999-2000. Thus, the Moldovan government was allegedly owing around $46,5 million. The tribunal’s decision was disputed by the Moldovans at the Paris Court of Appeal, which subsequently ruled in 2016 that the ad-hoc tribunal “misinterpreted the subject debt as an “investment” under the ECT” (Case No. 14-cv-01921 (CRC)). In its attempts to find recognition of the tribunal’s decision, Komstroy asked the D.C. Court to examine the case, even though the French Cassation Court returned the case to the Appeals Court in 2018.

Notwithstanding the ongoing proceedings in Paris, the US Court ruled in late 2018 that the award can be enforceable and more importantly, its amount could be increased to nearly $58 million, considering the exchange rate from the award date.

After the ruling on 23 August, Gene M.Burd, attorney for Komstroy, told Law360 that it’s “pleased” with the US Court’s decision to determine the Paris ad-hoc tribunal’s right and scope to act upon the role demanded by Moldova and the Ukrainian energy company.

Moldova’s Justice Minister, Olesea Stamate, rushed (on 11 September, when the US court decision got out into the wild) to explain that the payment of the award can be enforceable only after the Paris Appeals Court issues a final ruling at the end of the month. As quoted by Ziarul de Garda, Stamati dismissed Komstroy’s claim as a a “scheme that was applied by some persons to milk the public budget”, describing the debts as “bogus”, “sold at double price”. In addition, the Minister announced that Moldova contested the US court decision.

As Sic.md explains in a fact checker, Moldova’s problems began back in Paris, where lawyer Victor Volcinschi was reportedly defending the position of the Ukrainian company instead of the Moldovan side. Additionally, the new law firm, Bukh Law Firm, subcontracted in December 2018, was not paid between February and April 2019 by the previous Democrat government, putting the whole defence at risk.

According to sic.md, LLC Energoalliance is associated with the more-than-controversial oligarch Veaceslav Platon and his involvement in the even more famous Russian Laundromat.

Continue Reading

Important

Dumitru Alaiba: Vlad Plahotniuc has a Czech nationality as well?

Published

on

Deputy of the ‘ACUM’ bloc Dumitru Alaiba wonders whether the former DPM leader and oligarch Vlad Plahotniuc is Czech citizen. He recently posted an extract from what appears to be a document saying this:

According to the deputy, on June 4, Plahotniuc tried to open a new company in the UK.

“It seems that Vladimir Plahotniuc, before being taken down from the government, was busy with business development. On June 4, 2019, he was trying to open a new company in the UK – with a Czech passport. There’s nothing illegal, of course. It’s just that I didn’t know about it” wrote Alaiba on his personal blog.

The deputy urged Moldovan diaspora in London to visit the address from the document, in case they are in the area.

Read more: Vlad Plahotniuc made good use of his passport long before he became a political man

Continue Reading

Important

The Kroll 2 Report: 77 of Ilan Shor’s companies received $2,900,000,000 in loans

Kroll was contracted by the National Bank of Moldova on January 28, 2015, in order to investigate money laundering frauds in three banks: Banca de Economii, Banca Sociala and Unibank. The amount of the contract was not made public. The Kroll 2 report, published by the parliamentary investigation commission on bank fraud, spans 154 pages. However more details, such as company or person names, have been deleted.

Published

on

At the same time, the report does not contain the list of beneficiaries of bank fraud. Kroll 2 presents the schemes where bad loans were offered, but also how these funds have later circulated. The report contains the list of the 77 companies within the URB group, as well as the loans they have taken from the Moldovan banks.

In interviews, they were experts at Kroll with employees at Banca de Economii, and it was found that many relevant materials related to loans offered to Ilan Shor’s group were destroyed in suspicious circumstances of a fire in late November 2014.

The report states that between 1 January 2012 and 26 November 2014, the Banca de Economii, Banca Sociala and Unibank offered $2.9 billion in loans to companies in the Shor Group.

Money earned on loans was redirected to foreign accounts in the Latvian banks ABVL and Privatbank, through which they were laundered. These accounts appear to be open only for this purpose because they did not record any other transactions.

Another part of the loans was transferred to the bank accounts of the Republic of Moldova, Russia, but also other jurisdictions.

The loans went through a coordinated money-laundering process and then disappeared into several bank accounts.

Part of the loans offered to the companies in the Shor group remained in Moldova. The tracking of the initial destination of the funds showed that the amounts remained in the accounts held at the three banks or were transferred to other banks in Moldova to pay for other loans. At the same time, more money was mixed with other funds, so it was impossible to track them later.

Out of the 2.9 billion US dollars, Kroll points out that about 220 million US dollars remained in the Republic of Moldova and were used to repay loans from the Banca Sociala, Banca de Economii and Unibank, and other banks.

The full Kroll 2 report can be read here:

Continue Reading
Advertisement

Latest News

Economy1 week ago

Komstroy ready to recover Moldova’s contested energy debt by all means, including in the US

Komstroy intends to recover Moldova’s energy debt from 1999-2000 by “all legally available means”, the company’s lawyers from AGG wrote...

Economy2 weeks ago

Moldova likely to pay $58 million debt to Platon-associated energy company, case returns to Paris Appeal Court

The government of the Republic of Moldova is likely to be obliged to pay a $58 million award to Komstroy,...

Politics1 month ago

Parliament asks prosecutors to indict Moldova’s ex-PM, central bank governor, and 2 ex-ministers for negligence over 2014 frauds

The Parliamentary committee on the investigation of the circumstances around the devaluation of the baking system requested the Moldovan prosecutors...

Society2 months ago

Interview with Heritage director, Robert Ford: ”A society investing in education lays the foundation for prosperity, peace and ability to face the challenges of the future”

What made you take up educational work? Give us your essential bio. Like all good teachers, it was the influence...

Politics2 months ago

Maia Sandu urges Tiraspol to lift the travel ban for officials of the Republic of Moldova

Prime Minister Maia Sandu had a meeting with representatives of the mediators and observers in the “3+2” negotiation format. The...

Opinion2 months ago

President Igor Dodon’s Past Support for Irredentism Against Romania and Moldova’s New Government

This opinion piece was written by Dr. Ionas Aurelian Rus, Associate Professor of Political Science at the University of Cincinnati Blue...

Important2 months ago

Dumitru Alaiba: Vlad Plahotniuc has a Czech nationality as well?

Deputy of the ‘ACUM’ bloc Dumitru Alaiba wonders whether the former DPM leader and oligarch Vlad Plahotniuc is Czech citizen....

Advertisement

Opinions

Advertisement

Trending