The administration board of Victoriabank accuses the bank’s executive of releasing bad loans and of using money from the bank for personal interests. The board’s president Victor Turcan and board members told a news conference at IPN that they set out to replace the bank’s executive, but were blocked in their acts when the procedures started. The Buiucani District Court suspended the administration board after a minority shareholder challenged the decisions of the bank’s General Assembly of Shareholders in court.
Victor Turcan told the journalists that as a result of several internal examinations, it was established that the bank’s executive headed by Natalia Politov Cangas released a number of bad loans based on inappropriate business plans, without making sure that the money will be recovered. In the created situation, it was decided to terminate the contract with Natalia Politov Cangas. But she disputed the decision and the court reinstated her in her post. After a shareholder owning only eight shares of the over 25 million in Victoriabank filed a challenge to the Buiucani District Court, the administration board was suspended. “The details allow us to say that Cangas, who is desperate because her work contract expires on September 23, resorted to such acts in order to keep her post,” said Victor Turcan.
He also said that it’s paradoxical when an employee of the bank, either the president or a shareholder with eight shares, challenges the activity of the administrative bodies, the decisions of the General Assembly and of the broad named by this Assembly. “We appealed the dubious decision, but we are surfside by the fact that the closer is September 23, when the contracts of the bank’s president and two vice presidents expire, the higher is the number of unjustified decisions that make Politov believe that she will keep her post. I call this decision at least dubious and contrary to the interests of the bank and its clients,” stated Victor Turcan.
“A new raider attack on Victoriabank was launched. It is camouflaged and managed by Politov Cangas. The big surprise is that these attacks are supported by the Buiucani Court, while its activities are covered by influential persons from Moldova,” said the president of administration board.
According to Victor Turcan, the bank provided loans of millions of euros that were later transferred to offshore area or disappeared. “We think that in such cases, those who grant loans act in collusion with those who apply for loans. The bank releases loans without the consent of the lending committee. The situation at the bank is tense. There are about 2 million assets that do not generate incomes. The clients either went bankrupt or encounter economic problems and haven’t paid interests for a year or two. We found out about this only now,” he stated.
Victor Turcan said that Natalia Politov Cangas is now trying to bar the access of the members of the administration board to the bank. “On September 24, when her contract will no longer be valid, she may come to work protected by guards and enter her office forcibly. If she manages to call a special meeting, she will get an unlimited work contract in accordance with the Labor Code,” he added.
The members of the administration board said that if they do not manage to dismiss the current president of the bank, they will convene a new Extraordinary General Assembly where they will take a decision on her dismissal.
