The prosecution has formally accused the businessman Ilan Shor of stealing and laundering over 5 billion lei during his presidency at Banca de Economii (BEM), sending his case to court for trial.
The prosecutors said the fraud had been confirmed by the Kroll report, which the prosecution studied.
The scheme allegedly involved Shor offering BEM loans to his own companies, loans secured with fake documents issued by a number of Russian banks. Shor allegedly convinced the BEM board to agree to the loans without telling then that he was the actual beneficiary.
The board members confirmed to the prosecutors that they had been deceived into thinking that serious borrowers were involved that would pay a big interest.
The prosecutors say they have evidence showing that Shor tried to cover the fraud by laundering the money through off-shore companies.
However, Shor denies any wrongdoing, claiming that it was a plot by former prime minister Vlad Filat, who introduced him the businessman Veaceslav Platon. According to Shor, it was Platon who took out the loans by fraud.
Under the charges, Ilan Shor faces up to 15 years in prison. He will be tried by the Buiucani District Court.
The General Prosecution Service says over 20 criminal cases involving the bad loan fraud at the now bankrupt BEM, Banca Sociala and Unibank have already been sent to court.
