Moldova to step up probe into missing $1 billion
| Publisher | Radio Free Europe/Radio Liberty |
| Publication Date | 5 May 2015 |
| Cite as | Radio Free Europe/Radio Liberty, Moldova to step up probe into missing $1 billion, 5 May 2015, available at: https://www.refworld.org/docid/5565ba7c15.html [accessed 3 June 2023] |
| Disclaimer | This is not a UNHCR publication. UNHCR is not responsible for, nor does it necessarily endorse, its content. Any views expressed are solely those of the author or publisher and do not necessarily reflect those of UNHCR, the United Nations or its Member States. |
May 05, 2015
The head of Moldova's central bank says authorities will step up an investigation into the disappearance of more than $1 billion from three banks, after some 10,000 people protested over the scandal last week.
Moldova last year placed the three banks under central bank administration after a series of nonperforming loans bankrupted the lenders.
Central bank head Dorin Dragutanu said foreign investigators would be appointed soon in the second phase of a probe into the loss of the money, which is equivalent to around one-fifth of Moldova's gross domestic product, based on current exchange rates.
The central bank commissioned risk consultancy Kroll to conduct a preliminary investigation into the activities of the three banks.
Their findings were confidential, but on May 4 parliamentary speaker Andrian Candu published what he said was Kroll's report on his website.
The report said the scope of its investigation was too small to trace the identities of all who had gained from the banks' transactions.
It mentions the name of former President Petru Lucinschi as being a shareholder in one of the three banks.
Based on reporting by Reuters and hotnews.ro
Link to original story on RFE/RL website
