Former Moldovan oligarch Vlad Plahotniuc has been sentenced to 19 years in prison for his involvement in the financial scandal known as the "theft of the century," where around $1 billion disappeared from Moldova's banking system.
The court found him guilty of his role in the 2014–2015 fraud, a scheme that accounted for about 12% of the country's Gross Domestic Product at the time.
He is accused of personally benefiting over $40 million and has been ordered to pay about $60 million in restitution to the state.
Plahotniuc was not present in court and has denied the charges. His lawyer announced that the decision will be appealed, calling the trial politically motivated.
According to the prosecution, he used his political and economic influence to coordinate a complex fraud network, channeling funds for personal gain, including luxury purchases, business investments and other expenses.
Authorities also allege that he facilitated the involvement of another oligarch, Ilan Shor, in controlling several banks, which contributed to the scheme's realization.
The scandal erupted in 2014, when around $1 billion was transferred within a few days to offshore companies in the UK and Hong Kong, with unknown owners. The Moldovan government was forced to intervene to rescue the banks, creating a huge gap in public finances.
Plahotniuc, once the most powerful political and economic figure in Moldova, faced corruption charges in 2019 and fled the country after his party was ousted from power. He was arrested in Athens in 2025 and later extradited to Moldova after six years on the run.
