Moldovan oligarch jailed in $1bn 'theft of the century' case
Summary
Vlad Plahotniuc, once Moldova's richest man, was sentenced to 19 years in prison for a $1 billion banking fraud that happened in 2014-15. He was accused of personally receiving over $40 million from the scheme and must pay $60 million to the state; he denies the charges and plans to appeal.Key Facts
- The fraud involved $1 billion, about 12% of Moldova's GDP at the time.
- Loans were moved in two days to companies registered in the UK and Hong Kong, whose owners were unknown.
- The government bailed out the banks to protect depositors, causing a big loss to public funds.
- Prosecutors say Plahotniuc used stolen money for a private jet, properties, legal and medical services, tourism, and business deals.
- He was arrested in Athens in 2025 after six years on the run and was sent back to Moldova.
- Prosecutors claim he helped create a network to get illegal profits and helped pro-Russian oligarch Ilan Shor enter bank ownership.
- Ilan Shor currently lives in Moscow and faces accusations of interfering with Moldovan elections.
- Plahotniuc faces more criminal cases but says all charges are politically motivated.
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