▲ Up
 
13:24 23-11-2017
АКИpress CA-News Tazabek Turmush
ADVERTISE WITH US SUBSCRIBE
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Moldovan businessman jailed for role in $1 billion bank fraud
World | society | 10:16, 21 April 2017 | 553

AKIPRESS.COM - A Moldovan court sentenced businessman Veaceslav Platon to 18 years in prison on Thursday for money-laundering and fraud linked to the disappearance of $1 billion from Moldova's banking system, Reuters reported.

Known locally as the "theft of the century", the scandal saw the equivalent of an eighth of the impoverished former Soviet republic's gross domestic product stolen from three of its largest banks between 2012-2014.

An investigation into the banking fraud has identified around 40 people who either benefited from the scheme or facilitated it, but most of them have yet to be publicly named.

The court found Platon guilty of embezzling some of the money that disappeared - around 800 million lei ($42 million) - from lender Banca de Economii, which subsequently went bankrupt.

According to the judge's ruling, he must repay the money and serve 18 years in prison.

Platon, who maintains his innocence, said he was the victim of a witch-hunt.

"Look into my eyes, gentlemen judges. Are you not ashamed? This is not a verdict, it's a political show trial," he said after the sentence was read out.

A former prime minister, Vlad Filat, has also been jailed in connection with the scam, in which money was siphoned overseas over years through dodgy loans, asset swaps and shareholder deals.

The scandal triggered street protests, the International Monetary Fund and the European Union froze aid, the leu currency plunged to record lows and inflation climbed into double digits.

Many Moldovans believe other members of the pro-EU elite apart from Filat were also involved, or at least complicit, in the scheme.

Platon was detained in July 2016 and is separately suspected of involvement in a Russian-led money laundering operation that funnelled around $22 billion of Russian money through the Moldovan financial system between 2011-2014. He also denies any wrongdoing in that case.

He was denied the right to attend much of the trial because of alleged bad behaviour that included insulting the judges.

His lawyer, Eduard Rudenko, said this and other restrictions imposed on the defence amounted to a violation of his constitutional rights.

LATEST NEWS
12:57 Awareness campaign on ban of religious marriages with minors running in Kyrgyzstan12:54 Ambassador of Mongolia to Tajikistan delivers credentials12:37 Turkmenistan, Japan universities agree on student exchange program12:30 Anti-terror CCTV cameras to appear at Ala-Too square in Bishkek12:08 Newborn baby found after 3-4 hours after she was abandoned on street in Tokmok11:56 Jalal-Abad elects mayor after 1 year without town governor11:51 Peak of mortality on roads of Kyrgyzstan recorded in 201311:29 Jalal-Abad regional court hands 6 years in prison to ex-Chief of staff of National Guard for beating soldier without reason11:27 Deputy Сhairman of State Customs Service sacked11:20 Killer of British paraglider handed 16 years in prison in Mongolia11:16 Tajikistan mulls closer cooperation with Mexico10:56 Fire spreads over 5 ha of dry grass in Issyk-Kul10:55 Eurasian Economic Union showed itself as an inefficient organization: Kyrgyzstan lost $200 million from blockade and Union did not even include issue in agenda: MP10:46 Police searching for mother of abandoned baby in Osh10:38 MP Saidulla Nyshanov suggests to award Atambayev title of Hero of Kyrgyz Republic10:35 Border guards detain Kyrgyz woman using another passport while crossing border10:30 Car assembling facility burns down in Osh10:23 PM Isakov heads road safety commission10:17 Lawmaker on Kyrgyz Temir Jolu's procurement of 150 rail cars: "Nothing has arrived yet"10:07 South Korea publishes book about Shavkat Mirziyoyev
© AKIpress News Agency - 2001-2017. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)65-03-06