Former Moldovan oligarch Vlad Plahotniuc has been sentenced to 19 years in prison for his role in a massive banking fraud scandal known as the “theft of the century.” The scheme, which took place between 2014 and 2015, involved the disappearance of $1bn—equivalent to about 12% of Moldova’s GDP at the time.
Prosecutors said Plahotniuc personally received over $40m from the fraud and used the funds for luxury purchases, including property and a private jet, as well as business and personal expenses. He has also been ordered to repay around $60m in damages to the state. Plahotniuc, who was not present in court, denies all charges, with his legal team calling the case politically motivated and confirming plans to appeal.
The fraud involved large loans being rapidly transferred to offshore companies, forcing the government to bail out affected banks and leaving a major hole in public finances. Plahotniuc fled the country in 2019 amid corruption allegations and was arrested in Greece in 2025 before being extradited to Moldova. Authorities say he used his political and financial influence to coordinate the scheme, which also involved other figures including businessman Ilan Shor.
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