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qwant news | Moldovan oligarch jailed in $1bn 'theft of the century' fraud case

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Vlad Plahotniuc, once Moldova’s richest businessman and a key political figure, has been sentenced to 19 years in prison for his role in the 2014‑15 banking fraud that moved about $1 billion—roughly 12 % of the country’s GDP—through a web of UK‑ and Hong‑Kong‑registered companies, a scandal dubbed the “theft of the century.” The court found he personally received over $40 million from the scheme and ordered him to repay roughly $60 million in state damages; prosecutors said the money funded purchases such as an Embraer jet, real‑estate, legal and medical expenses, and other investments. The fraud forced the government to bail out the banks, creating a fiscal hole equal to an eighth of Moldova’s GDP, and later investigations linked many of the siphoned funds to pro‑Russian oligarch Ilan Shor. Plahotniuc, who denied wrongdoing and was absent from the hearing, was arrested in Athens in July 2025 after years on the run and faces additional corruption cases that his lawyers claim are politically motivated.

#VladPlahotniuc #IlanShor #Embraer #Moldovangovernment

AI generated summary, Read the full article for complete information.

Moldovan oligarch jailed in $1bn 'theft of the century' fraud case

Vlad Plahotniuc, once Moldova's richest man, was found guilty of partaking in a fraud which involved around 12% of the country's GDP.