{"id":441935,"date":"2016-03-18T23:10:45","date_gmt":"2016-03-18T23:10:45","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=441935"},"modified":"2016-03-18T23:10:45","modified_gmt":"2016-03-18T23:10:45","slug":"black-sea-euenergy-supplier-transnistria-linked-theft-one-billion","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/black-sea-euenergy-supplier-transnistria-linked-theft-one-billion\/","title":{"rendered":"BlackSea.EU: Energy supplier from Transnistria linked to one billion theft from Moldovan banks"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p><a href=\"http:\/\/www.theblacksea.eu\/index.php?idT=88&amp;idC=88&amp;idRec=1228&amp;recType=story\" target=\"_blank\">TheBlackSea.EU<\/a> published a report into Moldova&#8217;s energy troubles and the relation between an energy supplier from the break-away region of Transnistria and the grand theft of one billion US dollars from three Moldovan banks. <\/p>\n<p>As the author Michael Bird presents it, the intermediary company Energokapital, main electricity supplier to the Moldovan market, links to a series of off-shore companies from Hong Kong, Scotland, Seychelles Islands and maybe Belize, involved in the well-known one-billion fraud. <\/p>\n<p>Energokapital is an intermediary company that pays the Cuciurgan (Kuchurgan-cover foto) gas-powered plant situated in the unrecognized republic of Transnistria to produce electricity. Kuchurgan is 100 per cent owned by massive Russian energy holding company Inter RAO UES, which has a monopoly on import and export of electricity in Russia. Moreover, even though the power plant doesn&#8217;t pay for gas, Energocapital sells it for a comparable price to the Moldovan state company, Energocom. The profit is up to 400%, according to the expert Sergiu Tofilat.<br \/>\n<img fetchpriority=\"high\" decoding=\"async\" src=\"http:\/\/www.theblacksea.eu\/RES\/uploads\/images\/Final%20Map.jpg\" width=\"4724\" height=\"2362\" class=\"alignnone\" \/><\/p>\n<p>The off-shore ownership of Energokapital is even more suspicious. The Hong-Kong based Ornamental Art Limited is led by Wai Lap Shum, a nominee director, in order to hide the real owners: Scotland-based Energy Assets Development. The latter has the same address as Fortuna United Ltd, the company implicated in the grand theft.<br \/>\nThe <a href=\"http:\/\/candu.md\/files\/doc\/Kroll_Project%20Tenor_Candu_02.04.15.pdf\" target=\"_blank\">Kroll report<\/a> published by the speaker of the Moldovan Parliament Andrian Candu confirms that &#8220;Fortuna United Ltd is owed around 825 million Euro by the collapsed Moldovan bank Banca Sociala&#8221;. A Cypriot consultant, Marios Papantoniou, connected to both Fortuna and Energy Assets Development was the director of Manitoba Management, company that bought 4,98% of Unibank, another failed bank after the theft.<br \/>\nAnother shareholder of Energokapital, Bas Market, reportedly relates to Yuri Dzetsul, close friend of the president of Transnistria Evgeny Shevchuk, and to Intercom Management based in Belize. <\/p>\n<p>A mistery still remains: where all the profit from Energokapital goes? The economic expert Sergiu Tofilat stated three possibilities: 1. off-shores; 2. the money goes partly to Transnistrian budget, partly to off-shore companies through TiraspolTransgaz, region&#8217;s gas distributor; 3. the entire amount goes to TiraspolTransgaz. <\/p>\n<p>This cannot be disclosed as Energokapital refused to respond to BlackSea.EU and the off-shore companies are difficult to investigate. <\/p>\n<p>The lack of transparency within Energokapital didn&#8217;t bother the Moldovan Government that signed another contract of electricity supply, despite the fact that the Ukrainian suppliers offered cheaper energy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>TheBlackSea.EU published a report into Moldova&#8217;s energy troubles and the relation between an energy supplier from the break-away region of Transnistria and the grand theft of one billion US dollars from three Moldovan banks. As the author Michael Bird presents it, the intermediary company Energokapital, main electricity supplier to the Moldovan market, links to a [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":441936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-441935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"content_social_share":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p><a href=\"http:\/\/www.theblacksea.eu\/index.php?idT=88&amp;idC=88&amp;idRec=1228&amp;recType=story\" target=\"_blank\">TheBlackSea.EU<\/a> published a report into Moldova&#8217;s energy troubles and the relation between an energy supplier from the break-away region of Transnistria and the grand theft of one billion US dollars from three Moldovan banks. <\/p>\n<p>As the author Michael Bird presents it, the intermediary company Energokapital, main electricity supplier to the Moldovan market, links to a series of off-shore companies from Hong Kong, Scotland, Seychelles Islands and maybe Belize, involved in the well-known one-billion fraud. <\/p>\n<p>Energokapital is an intermediary company that pays the Cuciurgan (Kuchurgan-cover foto) gas-powered plant situated in the unrecognized republic of Transnistria to produce electricity. Kuchurgan is 100 per cent owned by massive Russian energy holding company Inter RAO UES, which has a monopoly on import and export of electricity in Russia. Moreover, even though the power plant doesn&#8217;t pay for gas, Energocapital sells it for a comparable price to the Moldovan state company, Energocom. The profit is up to 400%, according to the expert Sergiu Tofilat.<br \/>\n<img fetchpriority=\"high\" decoding=\"async\" src=\"http:\/\/www.theblacksea.eu\/RES\/uploads\/images\/Final%20Map.jpg\" width=\"4724\" height=\"2362\" class=\"alignnone\" \/><\/p>\n<p>The off-shore ownership of Energokapital is even more suspicious. The Hong-Kong based Ornamental Art Limited is led by Wai Lap Shum, a nominee director, in order to hide the real owners: Scotland-based Energy Assets Development. The latter has the same address as Fortuna United Ltd, the company implicated in the grand theft.<br \/>\nThe <a href=\"http:\/\/candu.md\/files\/doc\/Kroll_Project%20Tenor_Candu_02.04.15.pdf\" target=\"_blank\">Kroll report<\/a> published by the speaker of the Moldovan Parliament Andrian Candu confirms that &#8220;Fortuna United Ltd is owed around 825 million Euro by the collapsed Moldovan bank Banca Sociala&#8221;. A Cypriot consultant, Marios Papantoniou, connected to both Fortuna and Energy Assets Development was the director of Manitoba Management, company that bought 4,98% of Unibank, another failed bank after the theft.<br \/>\nAnother shareholder of Energokapital, Bas Market, reportedly relates to Yuri Dzetsul, close friend of the president of Transnistria Evgeny Shevchuk, and to Intercom Management based in Belize. <\/p>\n<p>A mistery still remains: where all the profit from Energokapital goes? The economic expert Sergiu Tofilat stated three possibilities: 1. off-shores; 2. the money goes partly to Transnistrian budget, partly to off-shore companies through TiraspolTransgaz, region&#8217;s gas distributor; 3. the entire amount goes to TiraspolTransgaz. <\/p>\n<p>This cannot be disclosed as Energokapital refused to respond to BlackSea.EU and the off-shore companies are difficult to investigate. <\/p>\n<p>The lack of transparency within Energokapital didn&#8217;t bother the Moldovan Government that signed another contract of electricity supply, despite the fact that the Ukrainian suppliers offered cheaper energy.<\/p>\n<div class='heateorSssClear'><\/div><div  class='heateor_sss_sharing_container heateor_sss_horizontal_sharing' data-heateor-sss-href='https:\/\/www.moldova.org\/en\/black-sea-euenergy-supplier-transnistria-linked-theft-one-billion\/' data-heateor-sss-no-counts=\"1\"><div class='heateor_sss_sharing_title' style=\"font-weight:bold\" ><\/div><div 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