Great Moldovan Bank Fraud is Nothing Compared to US-Ukraine Fraud

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

The signal issue about the 2014 Great Moldovan Bank Robbery was the means by which the fraud was accomplished without participation of the usual suspects — namely US Federal Reserve Primary Dealers — and the percentage of Moldovan bank funds stolen that the fraud loss represented, in relation to Moldova’s GDP. (ie big) (article from the day)

At least three Moldovan banks were financially threatened by the fraud and bailed with emergency reserves. Those “emergency reserves” are not named anywhere, but it’s clear that Moldovan national gold reserves were used to accomplish the bail-out, simply based on the timeline of this chart:

Note that from 2013 (when the fraud was actually discovered) to 2015 — when the governmental fraud investigation formally began — the equivalent of 1B $ US in gold reserves had been depleted (sold) by Moldova, which was the approximate total of the amount defrauded.


In other words, the funds that disappeared in Moldova’s national bank complex fraud scheme (involving bank loans and shares) were made whole by selling a portion of Moldova’s national gold reserves. Imagine if Moldova had no gold reserves? Via this 2014 bank fraud, Moldova’s entire financial system would have collapsed. NB: Since 2015 and rather mysteriously, Moldova had rebuilt its national gold reserves by 250% to 4.5B $ US by 2020.

Swiss Bank Corporation kilo bar minted prior to UBS takeover. One of these bars was also possessed by corrupt US Senator Bob Menendez

Now, note how Igor Kolomoisky‘s PrivatBank and Latvia’s ABLV were key to the Moldovan funds laundering scam, and that by extension most senior Moldovan politicians and bankers must have been involved — not just wide boy Ilan Shor. (Shor is now a fugitive from Moldova, hiding in Israel.)

Kroll, a financial crimes investigation contractor (somewhat suspect in its own right) better known formerly as Duff & Phelps, arrived at the conclusion that almost the entire Moldovan establishment was involved in the bank fraud, which is alleged to have begun far earlier than 2013. But ah… an investigation into the bank dealings of Moldova’s entire corrupt establishment, “will be rather hard to accomplish”. (Kroll)

Of course the usual dual-ist, false-dilemma western collective portrays the Moldovan bank fraud as being primarily a Russian operation, without divulging that major UK and Latvian banks were involved, as well as criminally charged Ukrainian Igor Kolomoisky’s PrivatBank. And, that western-style corrupt deregulation of the BEM and national bank system by the Moldovan government greatly contributed to the fraud.

Again, beside the involvement of distasteful characters such as Igor Kolomoisky* in this fraud (barely mentioned in the west) the scale of the fraud with regard to corrupt Moldova’s GDP and involvement of its entire ruling class, is one aspect that makes this fraud so notable. But of course the western collective will propagandize and portray any such criminal financial event in eastern Europe as being a matter where “the Russians did it” and a Big Deal.

Now the New York Times has revived the issue with a new story by Andrew Higgins, playing up the Russian angle for all it is worth, and the article is a stellar example of CIA propaganda in the major media. Here the New York Times and RFERL CIA operation work in tandem, pushing the Sandu coup as something positive for Moldova, while the irony of Sandu’s UN speech is quite stunning:

“Many countries, in Europe and beyond our continent, are feeling the sting of foreign interference in their democratic processes. This hybrid assault is conducted by those who oppose not just our democracy but all liberal democracies.

Maia Sandu, pro-west Boss of Moldova

Meanwhile an intensely corrupt United States federal government has funded Zelensky and his crew to a total in excess 110B $ US with apparently more US funds ripe for corruption to follow the bad. There is virtually zero US government oversight and little accountability for those Ukraine funds, and hardly a hint of protest from the “Great Unwashed” about that. Well, perhaps there is a hint now?

Most tragic of all, every day thousands of Ukrainians die in an unnecessary war for the Atlantic Council and MIC; while western Elites — and Zelensky’s patsy crew — simply shrug their shoulders.

Now, let’s all blame Russia for Moldova’s banking trouble..

*Even the Kiev regime found Kolomoisky’s financial hijinx so distasteful it was forced to prosecute him..


The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

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September 25, 2023

Given that at the time Moldova was the poorest country in Europe ( its probably Ukraine now despite all the laundering) That was huge amount of money,plus you are correct about the various entities being involved.You do not mention SWIFT which is the major way to actually trace the transactions between the banks.
Good article,thanks.

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