Court of Appeal upholds sentence in case of former BEM head: 10 years in prison and 100 million dollars in damages

The Central Court of Appeal has upheld the sentence handed down in the case of the former acting president of Banca de Economii (BEM), who was sentenced to 10 years in prison and ordered to pay damages of 100 million dollars in favor of the banking institution.

By its decision of July 8, 2026, the appellate court rejected as unfounded the appeals filed by the prosecutors and by the defendant’s lawyers against the judgment of the Chișinău Court of January 29, 2024.

Thus, the Central Court of Appeal maintained the 10-year prison sentence imposed on the former acting president of Banca de Economii, as well as his obligation to pay 100 million dollars to the benefit of the bank. The decision may be challenged by appeal to the Supreme Court of Justice within two months from the date it was pronounced.

According to the prosecution, between July 2013 and September 2014, while holding the position of acting president of Banca de Economii, the convicted person falsified seven SWIFT orders (payment orders executed through the international payment system) and, as a co‑author, embezzled from the financial institution funds amounting to 100 million dollars.

On March 11, 2021, the criminal case against the former acting president of Banca de Economii was sent for trial on the merits to the Chișinău Court. The trial lasted three years, during which the defendant did not admit his guilt. By the sentence of January 29, 2024, the court found the defendant guilty of committing the offence of embezzlement of another’s property in particularly large proportions in the interest of a criminal group, imposing a punishment of 10 years’ imprisonment to be served in a closed‑type penitentiary, with deprivation of the right to hold positions in the banking and financial sector for a period of five years.

At the same time, the civil action was admitted and the recovery from the convicted person, in favor of Banca de Economii, in liquidation, of material damages in the amount of 100 million dollars was ordered, to be converted into the national currency at the official exchange rate of the Moldovan leu valid on the date of execution of the sentence. The court also maintained the seizure of half of the assets belonging to the convicted person, worth approximately 4 million lei, in order to guarantee the recovery of the damages.