OREANDA-NEWS. June 03, 2013. The administration board of the Moldova-Agroindbank commercial bank informs public that a group of people has been performing a string of fraudulent actions targeting the bank, its administration as well as its shareholders since February 2013.

They have a common action plan and are backed by some officials working within state bodies (administrative and judiciary) as well as within the Registru-Corect independent register, the bank’s press release reads.

We believe these actions continue the enforcement of the illegal and especially dangerous attack scheme launched against the Moldova-Agroindbank commercial bank and its shareholders in the summer of 2011 and in 2012. However, according to the document, current actions go far beyond past types of raider attacks.

Moldova-Agroindbank’s significant share packages had been used in suspicious transactions with the help of the Registru-Corect independent register, which as well facilitated illegal transfers of the bank’s shares. The unknown source of the money used to acquire the bank’s shares doubts their legality and makes room for justified suspicions in this sense.

The magnitude and repulsiveness of these fraudulent actions could undermine the bank’s financial stability, whereas the particularly dangerous situation they are currently creating might also affect Moldova’s financial and economic stability. Without giving their prior consent, international financial institutions, which are also the bank’s creditors, will consider the essential change in the bank’s number of shareholders and administration bodies as a default case, in which they would be entitled to early withdrawal of their funds.

The Moldova-Agroindbank commercial bank notified all the Moldovan relevant bodies about the illegal theft of the bank’s shares, requiring them to take actions necessary to stop these fraudulent actions.

In the light of the situation’s seriousness degree, the bank’s administration board warns state institutions as well as the population over the danger that is currently threatening the bank, its creditors and depositors, in order to diminish negative consequences these actions might have on the bank, its shareholders as well as on Moldova’s entire banking and economic system.

In its tenure of controller and supervisor of the country’s banking system, the National Bank of Moldova is obliged to apply the provisions of the paragraph 2 of the Article No 15 of the law on financial institutions, and namely, to suspend the new shareholders’ right to vote, convoke and hold the general assembly of shareholders, right to include issues on the agenda, suggest members of the bank’s administration board, executive body and auditing committee as well as the right to receive dividends.

Moldova-Agroindbank’s press release also reads that the bank’s return to a legal composition of its group of shareholders, which would ensure the bank’s as well as the entire banking system’s stable functioning, decisively depends on the willingness and correctness of the actions taken by the National Bank of Moldova as well as by the National Commission of Financial Market and other bodies and state authorities responsible for combating money laundering in Moldova.