Moldova’s tycoon Plahotniuc sentenced to 19 years over “theft of the century”

A court in Chișinău has sentenced Moldovan oligarch and former Democratic Party leader Vlad Plahotniuc to 19 years in prison for his role in the so-called ‘theft of the century’ case, one of the country’s most significant financial scandals.

The verdict was delivered on 22 April by the Buiucani District Court, which found Plahotniuc guilty of complicity in the embezzlement of funds from three Moldovan banks. According to the ruling, he was involved in the scheme that led to the disappearance of around €1 billion from the country’s banking system in 2014.

Prosecutors had sought the maximum sentence of 25 years in prison, arguing that Plahotniuc played a central role in the fraud. The court ultimately handed down a 19-year sentence to be served in a closed-type penitentiary.

Plahotniuc did not attend the hearing at which the verdict was announced.

According to the investigation, the former political leader received approximately $39 million and €3.5 million from the stolen funds through companies controlled by fugitive businessman Ilan Shor, who has also been convicted in connection with the case.

The judgment can be appealed at the Chișinău Court of Appeal. Prosecutor Alexandru Cernei said the prosecution would review the court’s reasoning, particularly regarding the length of the sentence, before deciding whether to challenge it.

“Plahotniuc was found guilty on all five counts. We requested 25 years. We will analyse the court’s arguments and decide whether to appeal,” Cernei said following the ruling.

The defence has also indicated it will appeal the decision. Lawyer Lucian Rogac argued that the trial was marked by numerous procedural violations and described the ruling as unlawful.

“We consider the court’s decision illegal and will exercise our right to appeal it. We did not expect a different outcome, given that the entire process was accompanied by serious violations,” Rogac said.

Plahotniuc has consistently denied the charges. In his final statement before the court in March, he argued that the case file did not contain evidence of the existence of an organised criminal group, which prosecutors claim he led in order to orchestrate the fraud and launder money.

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He also rejected accusations that he helped Shor gain control over Banca Socială and Unibank, two of the financial institutions at the centre of the scandal. According to Plahotniuc, Shor acquired shares in the banks in small increments that did not require approval from the central bank.

The ‘theft of the century’ scandal came to light in late 2014, when approximately €1 billion – equivalent to a significant share of Moldova’s GDP at the time, disappeared from three banks: Banca de Economii, Banca Socială and Unibank. The case triggered a major political and economic crisis in the country.

In response, Moldova’s central bank placed the institutions under special administration before authorities decided to liquidate them, a process that is still ongoing. To stabilise the financial system and prevent panic, the government issued state-backed loans equivalent to the missing funds.

These loans were later converted into public debt through government bonds worth 13.3 billion lei, carrying an interest rate of 5% and a maturity of 25 years. With interest, the total repayment burden is expected to reach 24.5 billion lei.

Plahotniuc, once considered the most powerful figure in Moldova, fled the country in 2019 following a political crisis in which his party failed to form a government. His influence over the country’s political and institutional life had previously earned him the nickname “the master of Moldova”.

He was detained in Greece in July 2025 by Interpol officers while attempting to board a flight using false identification. Moldovan authorities subsequently coordinated with their Greek counterparts to secure his extradition.

Plahotniuc was returned to Moldova on 25 September 2025 and has since been held in pre-trial detention at Chișinău’s, with his detention repeatedly extended during the proceedings.

The case against him was sent to court in July 2023 and forms part of a broader set of criminal investigations in which he is accused of corruption, money laundering and involvement in an organised criminal group.

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Sources: European Pravda, newsmaker.md, Reuters

Caption: Policemen escort Moldova’s fugitive oligarch Vlad Plahotniuc (C) after his extradition from Greece upon arrival at Chisinau International Airport, Moldova, 25 September 2025. The former politician and businessman Plahotniuc is facing charges over a fraud case worth one billion US dollars. EPA/DUMITRU DORU