NBM’s position on Ilan Shor’s intention to recover money stolen from banks


The National Bank of Moldova (NBM) ascertains that the recovery of the money stolen from banks, which is a very sensitive issue for society, turns into an instrument for building the image of some of the politicians and is an action aimed at disorienting the public. The NBM notes that it encourages real, not declarative facts and contributions that would help to successfully and swifter complete the investigation and to recover the stolen funds, IPN reports.

The Bank said the call made by the lawyers for citizen Ilan Shor, including to the NBM, can be formulated within the already instituted criminal proceedings as the Chisinau City Court, on June 21, 2017, found Ilan Shor guilty of causing serious damage to the state by swindle and abuse of trust and by considerable money laundering. Correspondingly, the court held that by the committed offenses, the culprit caused damage to Banca de Economii SA and the civil lawsuit filed by the civil party is admissible and the bank is to decide the size of damages within civil procedures.

As to the request “to compensate the value of banks’ assets owned on November 27, 2014”, the NBM said the shareholders know very well that the debts to a bank under liquidation are cleared in the order of priority of the set class of debts. The debts of shareholders are settled after all the debts of creditors to the bank are cleared with the remaining assets.

Currently, BC Banca de Economii SA pays the debts to the Ministry of Finance. The BNM noted that the shareholders of this bank didn’t challenge the documents issued by the National Bank and didn’t’;t file applications to get compensations for the owned assets.

At the end of April, the leader of the Shor Party Ilan Shor, ex-president of the Administration Board of Banca de Economiii (Savings Bank), said that he is ready to return the sum of money that is imputed to him in the bank fraud case and then to claim it from the real beneficiaries of the bank fraud. The former shareholders of the three bankrupt banks - Banca de Economii, Unibank and Banca Socială – will seek damages in court and he is ready to help disclose those who planned the bank fraud and contribute to the recovery of the stolen funds.