Five Employees of a Construction Company were Put on Trial after Producing Damages of over 2 Million Euros to 56 Investors

Five Employees of a Construction Company were Put on Trial after Producing Damages of over 2 Million Euros to 56 Investors
by
28 July 2021 | 14:38

Five former employees of a construction company were put on trial after 56 investors in a building lost over 2 million euros. The defendants are accused of fraud, embezzlement of foreign property, abuse of office, false statements, false accounting documents, concealment of accounting documents, and presenting false evidence in court.

According to Prosecutor’s Office, the crime happened during the years 2012-2013. The defendants used the money from investors for other purposes than those indicated in the contracts, namely construction, and commissioning, with getting full ownership of the buildings in which they invested.

The defendants mortgaged the building that they constructed to a bank, thus accessing money that would permit them to further construct the building. They mortgaged the building by misleading the investors not to declare the contracts to cadastral institutions at the right time. As a consequence, the defendants got two sources of money – the investors and the bank. Despite the fact that they had the financial means to finish the construction, they did not honor their obligations. Because of this, the bank initiated a legal procedure to take the mortgaged property in possession.

Another charge refers to using the financial means for personal purposes by the construction of a large private building, and by using fictitious ownership of the company’s property by intermediary persons. Prosecutors also found that the defendants forged documents, reports, and official information to make it look legal. Also, they stole and concealed accounting documents. As a result of illegal actions, the construction company went bankrupt. The defendants are accused of fraud, embezzlement of foreign property, abuse of office, false statements, false accounting documents, concealment of accounting documents, and presenting false evidence in court.

Till this stage, the construction company did not take measures to reimburse the damage to the investors. In order to ensure that the damages would be paid, prosecutors managed to apply seizure of the assets amounting to 350,000 euros.

The criminal case was started in 2017, at the complaint of an investor. Prosecutors continue the criminal investigation with reference to at least 15 other injured parties. According to the law, their most serious act – fraud – is punishable by imprisonment from 8 to 15 years with deprivation of the right to hold certain positions or to exercise a certain activity for a period of up to 5 years.

AUTHOR MAIL eng.zdg@gmail.com

 .

Half a Million Euros Belonging to the Runaway Oligarch Vladimir Plahotniuc Seized in the Billion-Dollar Bank Fraud Case

The Agency for the Recovery of Criminal Assets within the National Anticorruption Center issued a note announcing that approximately 500,000 euros from bank fraud, the beneficiary of which is Vladimir Plahotniu…
Half a Million Euros Belonging to the Runaway Oligarch Vladimir Plahotniuc Seized in the Billion-Dollar Bank Fraud Case

Four Pilots Detained and Two Others Wanted in a Cigarette Smuggling Case with Aircrafts

On September 14, an AN-2 plane full of smuggled cigarettes, heading for Romania, was captured by the border police in Edineț, while flying in the airspace of Moldova. At the same time, the representatives of th…
Four Pilots Detained and Two Others Wanted in a Cigarette Smuggling Case with Aircrafts

EDITORIAL: The Cost of Reputations in Moldovan Politics

Less than two months after taking office, the Action and Solidarity Party has managed, through its staff policy and the order of changing the heads of key state institutions, to irritate lots of people and to a…
EDITORIAL: The Cost of Reputations in Moldovan Politics

China is Ready to Provide Support to Moldova for the Modernization of Hospital Medical Institutions

The Minister of Health, Ala Nemerenco agreed with the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Moldova, E. S. Zhang Yinghong to launch the third phase of the proje…
China is Ready to Provide Support to Moldova for the Modernization of Hospital Medical Institutions

EU – Moldova Relations and Future Developments Discussed During High-level Visit of EU Officials to Chișinău

A high-level visit of EU officials takes place during 13-15 of September in the Republic of Moldova, with the participation of Ms. Katarína MATHERNOVÁ – Deputy Director-General for Neighbourhood…
EU – Moldova Relations and Future Developments Discussed During High-level Visit of EU Officials to Chișinău

President Maia Sandu Decorated with the Order of Merit the Ambassador of the French Republic to Chișinău, Pascal Le Deunff, at the end of His Mission in Moldova

The Ambassador of the French Republic to Chișinău, Pascal Le Deunff, was decorated with the Order of Honor by the President of Moldova, Maia Sandu at the end of his mission in Moldova. “This morning, I aw…
President Maia Sandu Decorated with the Order of Merit the Ambassador of the French Republic to Chișinău, Pascal Le Deunff, at the end of His Mission in Moldova