Moldova24 is able to bring to your attention the scheme which, according to a Supreme Court of Moldova ruling of October 2013, was used by businessmanViorel Ţopa to loot USD 400.000 from the Savings Bank of Moldova (BEM). All of this is described in the Supreme Court sentence, which is final and irrevocable, and which can be accessed here.
The scheme and the Supreme Court ruling clearly describe howViorel Ţopa, who was holding an important office within the Savings Bank of Moldova, offers a loan of USD 1.000.000 to Air Moldova. As collateral, an off-shore company owned by the same Viorel Ţopa transfers into the BEM accounts the sum of USD 400.000, previously deposited into the company accounts by several accomplices. Immediately after Air Moldova takes possession of the USD 1.000.000 loan, the second phase of the heist kicks in.
Knowing from the start that Air Moldova would not repay the loan, Viorel Ţopa, still in office at BEM, endorses a document that allows the offshore company – that belonged to him – to withdraw the USD 4.000.000 collateral.
This is how Viorel Ţopa embezzled a “fee” of USD 400K for a loan that he knew well would not be returned. This way, BEM was left without both the USD 1.000.000 loan money and without the collateral illegally withdrawn by Viorel Ţopa.
Viorel Ţopa’s scheme to embezzle USD 400K
1. The accomplices of Viorel Ţopa transfer USD 400.000 onto the accounts of Sparks Management Corporation.
2. Sparks Management Corporation, controlled by Viorel Ţopa, uses the money received as collateral for a USD 1.000.000 loan to Air Moldova.
3. The Savings Bank of Moldova, where Viorel Ţopa is a decision-maker, transfers the USD 1.000.000 loan to Air Moldova
4. Viorel Ţopa transfers the USD 400.000 collateral back to his offshore company, from whence the money came.
This post is also available in: Romanian