Bank Fraud Investigation Rocks Moldova: Prosecutor-General Under Fire for Cover-Up

Scathing Report Reveals Massive Bankruptcy and Theft of Funds

A parliamentary commission in Moldova has released a damning report detailing the disappearance of over $1 billion from the country’s banking system. The impoverished nation is reeling as the report highlights massive loans distributed without oversight, leading to the collapse of three banks and the theft of funds equivalent to nearly 10% of Moldova’s economy.

Kroll Report Exposes Offshore Account Links

The Kroll report, completed in March 2018, reveals that much of the stolen money moved through offshore accounts in Ukraine and Latvia. The report was compiled by US-based corporate investigative firm Kroll.

Calls for Prosecutor-General to Resign

Chairman of the parliamentary commission, Aleksandr Slusari, accused the prosecutor’s office of hiding crucial information on who was responsible for the disappearance of the funds. Lawmakers have demanded Prosecutor-General Eduard Harunjen resign for failing to investigate the case adequately, citing his close ties to controversial tycoon Vladimir Plahotniuc and the Democratic Party.

Prime Minister Blames Prosecutor-General for Inaction

Prime Minister Maia Sandu personally blamed Harunjen for the failure to recover some of the stolen money, stating that he will “answer before the law” for his inaction and abuses. The scandal has sparked fierce debate in parliament, with opposition parties seeking seats on the commission investigating the bank theft.

Commission Criticized for Lack of Independence

The six-member commission currently lacks any opposition representation, leading critics to question its independence and impartiality. As Moldova seeks closer integration with Western Europe, the country’s reputation has taken a significant hit due to this high-profile banking fraud case.

Key Points:

• Over $1 billion disappeared from Moldova’s banking system
• Massive loans were distributed without oversight, leading to bank collapses and theft of funds
• Offshore accounts in Ukraine and Latvia linked to stolen money
• Prosecutor-General Eduard Harunjen accused of hiding information and failing to investigate adequately
• Opposition parties demand Harunjen resign and call for a more independent commission investigation