Three citizens of the Russian Federation and a citizen of Georgia were convicted in Chisinau for fraud. They deceived a number of Moldovans, illegally obtaining large sums of money through false promises of quick gain on online financial markets. The court gave them prison sentences of 9 to 10 years and ordered them to pay over 12 million lei damages, IPN reports.
The case was initiated in 2018 by the Anticorruption Prosecutor's Office and was retried following a decision by the Chisinau Court of Appeals, after the first sentence had been quashed.
The illegalities were committed between June 2016 and November 2017. The defendants acted in complicity with other persons, from the Czech Republic, Cyprus, Russia and other states, posing as representatives, managers and brokers of companies registered in Limassol in Cyprus.
The activity was carried out on online platforms registered in Belize, Vanuatu. By deception and breach of trust, including through personnel employed in Moldova and trained in this regard, they persuaded Moldovans to invest money in fictitious financial schemes. They promised them large profits, but without explaining the risks.
As a result of these transactions, the victims lost everything they had invested, and the defendants illegally obtained over €310,000 and US$305,000, the equivalent of over 12 million Moldovan lei.
The Buiucani Court of Chisinau City sentenced three of the defendants to 9 years in prison, and the fourth – to 10 years in prison. The convicts were also banned from holding positions and carrying out activities related to the administration and management of money and other assets for a period of 5 years. They are to pay about 12 million lei in compensation in favor of 10 injured parties.
By the same sentence, the Chisinau Court’s decision of July 21, 2021 to list the three wanted was upheld.
