{"id":447474,"date":"2019-07-05T09:15:07","date_gmt":"2019-07-05T09:15:07","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=447474"},"modified":"2019-07-05T09:19:40","modified_gmt":"2019-07-05T09:19:40","slug":"kroll-2-report-77-ilan-shors-companies-received-2900000000-loans","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/kroll-2-report-77-ilan-shors-companies-received-2900000000-loans\/","title":{"rendered":"The Kroll 2 Report: 77 of Ilan Shor’s companies received $2,900,000,000 in loans"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

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.<\/p>\n

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<\/strong> in late November 2014.<\/p>\n

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.<\/p>\n

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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.<\/p>\n

Another part of the loans was transferred to the bank accounts of the Republic of Moldova, Russia, but also other jurisdictions.<\/h3>\n

The loans went through a coordinated money-laundering process and then disappeared into several bank accounts.<\/p>\n

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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.<\/p>\n

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.<\/p>\n

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The full Kroll 2 report can be read here:<\/p>\n