Former Victoriabank vice-president to stand trial for complicity in fraud and money laundering

A former vice-president of Victoriabank SA will stand trial after the Anticorruption Prosecutor’s Office completed the criminal investigation and referred the case to court. He is accused of complicity in fraud committed by a criminal organization on an exceptionally large scale, as well as money laundering.

According to the Anticorruption Prosecutor’s Office, the alleged acts were committed in 2014, when the defendant held the position of first vice-president of the Management Committee of “Victoriabank” and was a member of the Asset and Liability Management Committee.

Prosecutors claim that he acted in coordination with the then-president of “Victoriabank,” in the interests of the criminal organization allegedly led by Vladimir Plahotniuc and other individuals. By providing financial instruments and removing certain obstacles, the former vice-president allegedly contributed to carrying out a plan to misappropriate funds from the state budget and the national banking system.

In particular, according to the prosecution, he allegedly knew that the funds deposited with Banca de Economii, Unibank, and Banca Socială were to be misappropriated within a few days through the formal granting of loans to legal entities affiliated with and controlled by the criminal group led by Ilan Shor.

According to prosecutors, despite allegedly being aware of the precarious financial situation of the three banks and the lack of any economic rationale for “Victoriabank,” the defendant allegedly provided the necessary instruments and removed obstacles to facilitate the criminal acts.

As a result of these actions, prosecutors claim, Banca de Economii incurred a total debt to “Victoriabank” amounting to 2 billion 245 million 548 thousand 505 lei.

According to the Anticorruption Prosecutor’s Office, the criminal organization under investigation consisted of several organized criminal groups, including the group led by Ilan Shor, which allegedly controlled Banca de Economii, Unibank, and Banca Socială through intermediaries.

The criminal case has been referred to the Chișinău Court for consideration on its merits. To ensure compensation for the damage caused by the alleged offense and any potential special confiscation, prosecutors seized assets owned by the defendant or held by him as the beneficial owner, with a total value exceeding 32.7 million lei.