Moldovan oligarch Vlad Plahotniuc jailed for 19 years in $1bn banking fraud

Vlad Plahotniuc, once Moldova's richest man, has been sentenced to 19 years in prison for his role in a major banking fraud case known locally as the "theft of the century".

The fraud involved the transfer of $1 billion in loans during 2014-15, equivalent to about 12% of Moldova's GDP at the time.

Plahotniuc was found guilty of receiving over $40 million from the scheme and was ordered to pay approximately $60 million in damages to the state.

He was not present in court for the sentencing, and his lawyer has stated that he plans to appeal the verdict.

Prosecutors said Plahotniuc used the stolen funds for personal expenses including purchasing an aircraft, acquiring property, and funding legal, medical, and tourism services.

Authorities accused Plahotniuc of using his influence across public, political, financial, and criminal spheres to coordinate a network that facilitated the fraud.

This included enabling pro-Russian oligarch Ilan Shor's entry into bank shareholdings, which was linked to the fraudulent activities.

The fraud caused a significant financial crisis in Moldova, forcing the government to bail out the affected banks to protect depositors, which created a hole in public finances equal to an eighth of the country's GDP.

Plahotniuc fled Moldova in 2019 after facing corruption charges and was arrested in Athens in July 2025 before being extradited back to Moldova.

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