OREANDA-NEWS. May 14, 2010. The General Prosecutor’s Office of Moldova has instituted criminal proceedings on the fact of money laundering in large amounts and deliberate bankruptcy of Moldavian-Cyprus SC Eventis Mobile. As it was informed in the Prosecutor's Office in Moldova, the criminal case was instituted after the completion of inspection of the investments made in Moldova by the joint venture Eventis Mobile Inc. - the third mobile operator of Moldova in GSM standard, controlled by the Russian investment group Eventis Telecom Holdings.

The Office notes that the analysis of all transactions and financial commitments made by the mobile operator has revealed a number of facts and questionable transactions, which, according to prosecutors, confirm suspicions that the whole project Eventis Mobile has been focused on money laundering by the concerned persons in Russia. The Moldovan Prosecutor’s Office noted that in accordance with the commitments undertaken in 2006 Eventis Mobile SRL must have invested in the project USD114 million till 2010.

However, the company has not received all sum scheduled by the business plan, amounting to only USD 48 million. As a result, the operator was unable to provide technical network coverage and provided services at only 35% of the country (mainly in Chisinau, Balti, in Comrat and on the highway Chisinau-Balti). Funding of Eventis was suspended in spring 2008 resulting in the company’s bankruptcy and on March 30, 2010 the insolvency was officially recognized by the Economic Court. Currently, its debts are about 940 million lei (USD 75 million); of which USD 7 million-internal debt (including USD 1 million of unpaid wages) and USD 300 thousand debt to the state budget.

The General Prosecutor’s Office noted that, as it has been established, the funds invested in the joint venture Eventis Mobile SRL were partially taken in loan by its majority shareholder –“Eventis Telecom Holding Limited " and most of funds was received from the company “RTK-Leasing "(Moscow) under the interest rate of 15% p.a. and an additional 10% penalty for the late payments. The prosecutors also revealed that the company ICN Consulting SRL was appointed the general contractor to carry out necessary construction works for Eventis Mobile. The inspection exposed that the responsible persons of the company ICN Consulting SRL have transferred funds and received objects, which do not existed in reality.

The prosecutors have identified suspicious money transfers, thus on August 21, 2008; Eventis Telecom Holding Limited has transferred the joint venture Eventis Mobile Inc. about USD 2 million which were transferred to ICN Consulting SRL, which, in turn, on the second day has transferred the funds back to the foreign investors on its accounts in the Russian Federation. During this transaction, SC Eventis Mobile has accumulated artificial debts.

As the Prosecutor's Office of Moldova notes, through these transactions, the concerned persons in Russia were able to legalize funds received from the offshore zone. Eventis Mobile Company SRL was established in 2005 by the group “Eventis Telecom Holding Limited" (registered in the offshore zone in Cyprus), which owns 51% of the share capital of the company and the individual from Moldova, who owns 49% in the company.