Anticorruption prosecutor: Property valued at 6.4bn lei was sequestrated in bank fraud case

Property to the value of 6.4 billion lei was sequestrated in the bank fraud case. Anticorruption prosecutor Octavian Yakimovski said the state will take possession of this money only when there are final court judgments and the accused persons are convicted. The bank fraud lasted for at least three years and was committed with the involvement of Moldovan decision makers, IPN reports.

Prosecutor Octavian Yakimovski said they managed to sequestrate considerable tangible and intangible assets in the bank fraud case and the state budget will gain billions of lei from the confiscation of this property when final court decisions are taken.

“Since the cases concerning the bank fraud were started and up to now, property to the value of 6.4 billion lei was sequestrated and this is 48% of the caused damage. We sent the cases to court and there is a resonant criminal case pending at the Appeals Court, featuring Ilan Shor. But the confiscation is ordered by a judge, when the sentence is irrevocable. The sum of 6.4 billion lei can be taken possession of when sentences convicting the persons are passed,” Octavian Yakimovski stated in the program “Reflection Points” on Vocea Basarabiei station.

According to him, the bank fraud case features not only those who took part in the stealing of bank funds, but also those who, while heading state institutions, hushed up this theft. Representatives of the central bank knew what was going on in the system, but didn’t intervene.

“For us, it is clear that this sum disappeared not during a month, but during three years. At the beginning, they used the faults existing in the legislation at that moment. Within this case, we also examined the way in which the state institutions reacted and representatives of particular institutions were charged. Even if they didn’t take part in the stealing, they abused their position to facilitate the stealing. A former governor and two vice governors of the National Bank will stand trial on charges of complicity in money laundering and swindle,” said the prosecutor.

For their part, Romanian anticorruption experts noted the sequestration of property is a very beneficial practice as those involved in cases cannot use the money to bribe prosecutors and judges.

“The sequestration is very important. If the property is not sequestered, those who are investigated can use their money to pay bribe and exert influence so as to escape punishment. They would use the non-sequestered money against the state. Furthermore, if the assets are sequestrated, money can be recovered following conviction. That’s why it is important to have court decisions,” said international asset recovery and anticorruption expert Radu Nicolae.

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