“Mobiasbanca” accused of earning money by impoverishing Moldova

The Board of Mobiasbanca - Groupe Societe Generale SA did not transfer taxes in extremely large amounts to the state budget, which can contribute to a higher poverty level in Moldova, president of the Law and Democratic Foundation Iulia Deleu told a news conference. She said that as a minor shareholder, she is a victim of the illegalities committed by the members of the bank’s Board and the major shareholders. Iulia Deleu said that in 1996 she signed a contract to take part in the authorized fund of “Mobiasbanca” and invested a large sum of money. After 2000, the bank’s Board and the major shareholders decided not to pay dividends, arguing that the bank has signed agreements with the State Main Tax Inspectorate in order to benefit from tax concessions. “Meanwhile, I established that the situation was different. Two agreements were signed with the State Main Tax Inspectorate, not four as it was said in assemblies, and they did not cover the period of 14 years, as asserted, but only eight years. Neither the agreements signed with the Inspectorate, nor the legislation envisioned the restriction not to distribute dividends,” said Iulia Deleu. According to her, the errors committed by the bank’s Board and major shareholders are evident. An economic entity with large capital could not benefit from such a concession, as the legislation lays down strict conditions in this respect. Iulia Deleu said that in 2007, the major shareholder – a U.S. company – performed a large-scale transaction with the French bank Société Générale in the absence of the decision of the general assembly of shareholders. “The legislation was seriously violated as it is the exclusive power of the general assembly to take decisions about transactions involving more than 50% of all the voting shares. That transaction involved 70% of the shares,” she said. Iulia Deleu also said that she asked the National Financial Market Commission, the National Bank, the Prosecutor General’s Office and the Anticorruption Prosecutor’s Office to inspect the bank, but they misinterpreted the legislation on the tax concessions and the selling of the controlling interest. Iulia Deleu said that she was deprived of dividends of 3 million lei. The case has been examined in court since May 2009. In the same news conference, there was presented another illegality. The Stratan family, whose lawyer is Iulia Deleu, has sought justice for about eight years. In 2003, the family’s house was seriously damaged as a result of the construction works performed nearby. Flat owner Nina Stratan said that in 2006 a wall collapsed. There was her son aged 20 inside. “He was blind and died of fear as he did not see what and where fell down,” said the woman. The Stratan family applied for a reconstruction authorization. “We could not get it as our neighbor did not allow us to reconstruct the house. Ultimately, we obtained the authorization, but cannot perform the construction works owing to an examination that was carried out,” said Nina Stratan. The house is under reconstruction and the family lives at the relatives. Vitalia Pavlicenko, president of the National Liberal Party, on whose lists Iulia Deleu is running for municipal councilor, told the same news conference that the rights of the Stratan family are seriously violated in Moldova. Neither the Communist nor the Democrat administration helped them, she stated.