Moldovan bank fraud scandal
Funds worth $1 billion were transferred to United Kingdom and Hong Kong shell companies used to conceal the real owners of assets, then deposited into Latvian bank accounts under the names of various foreigners. The total loss from the scheme is equivalent to 12% of Moldova's GDP. A carousel borrowing scheme was applied, loans at one bank were paid off with loans from another. The massive expansion of bank lending was funded with heavy borrowing from Russian companies.
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Moldovan bank fraud scandal
Funds worth $1 billion were transferred to United Kingdom and Hong Kong shell companies used to conceal the real owners of assets, then deposited into Latvian bank accounts under the names of various foreigners. The total loss from the scheme is equivalent to 12% of Moldova's GDP. A carousel borrowing scheme was applied, loans at one bank were paid off with loans from another. The massive expansion of bank lending was funded with heavy borrowing from Russian companies.
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Funds worth $1 billion were tr ...... ii, Banca Sociala and Unibank.
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Wikipage page ID
49,310,684
Wikipage revision ID
741,146,196
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Banca de Economii was a state ...... dulent money laundering scheme
key people
Vlad Filat, Ilan Shor, Nicolae Timofti, Iurie Leanca, Stephane Bride, Mircea Buga
comment
Funds worth $1 billion were tr ...... rowing from Russian companies.
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Moldovan bank fraud scandal
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Moldovan bank fraud scandal
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