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8 I Companies & Markets bne April 2021
Separately, Slusar said that the evidence supports the idea that the Public Property Agency asked a price six times lower than estimated by the Chamber of Accounts. It is not explained why other bidders did not submit offers, but the short notice is the most likely cause: Civil Aviation Group, despite being set up 12 days before the bid, was quickly accepted as the winner with no further check from the privatisation authority.
Slusar explained in detail how the money for the privatisation of Air Moldova came as a loan from Moldasig. There is, however, a link that needs further clarification unless it is demonstrated with hard evidence: this is the moment when
a previously unknown old lady in Chisinau withdrew €2.5mn from a bank (undisclosed by Slusar) in Chisinau and hand the money to one of the buyers of Air Moldova. The rest should be registered in the banks' accounts unless the documents have been burned (as in the case of the $1bn bank frauds).
“On September 28, 2018, the Moldasig insurance company made two transfers to Style Design Imobil for a total of MDL59.22mn, for the purchase of 55% of the shares of another company, Style Design Company. Both companies were created on 12 to 13 September 2018 by two citizens of the Russian Federation – Roman Mishchenkov and Igor Dulga, Plahotniuc's intermediaries. Then, on September 28, Style Design Imobil transferred MDL59.2mn loan to a 65-year-old resident of Chisinau Olga Evdokimova, who is not listed in the company's management and has not even received a salary in recent years,” stated Slusar.
India's Sandhar to open car parts plant in Romania
Iulian Ernst in Bucharest
Indian car parts manufacturer Sandhar Technologies will open a factory in Romania, where it will produce die-cast aluminium components for windscreen wipers and seat belt retractor spindles.
Indian investors in Romania include multinational corporation Wipro that recently took over IT units from the German retailer Metro, IT services company Infosys, professional services firm Genpact and pharma companies SunPharma
and Dr. Reddy’s Labs, while British-Indian billionaire Sanjeev Gupta bought the Sidex plant in Galati, along with other European facilities formerly owned by ArcelorMittal, in 2019. Gupta was also the sole bidder for the Romanian Credit and Investment Bank (BRCI) in November.
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He noted that Evdokimova withdrew MDL58.7mn from the account of an undisclosed Moldovan bank.
“The transaction was made after the end of the working day, and this contradicts the requirements to prevent and combat money laundering and terrorist financing,” said Slusar.
Further, according to Slusar, this money was put into circulation by the co-founder of Civil Aviation Group Andrei Yanovich, “a man from the entourage” of the now wanted deputy Ilan Shor.
Yanovich (owner of 25% in Civil Aviation Group) deposited MDL50.2mn in his Moldovan bank account and provided it to Civil Aviation Group as a loan.
On the same day, as the investigation commission found out, Civil Aviation Group transferred MDL49.8mn to the state for the privatisation of Air Moldova.
On July 26, 2019, the National Anticorruption Centre (CNA) opened a criminal case in connection with money laundering. As noted by Slusar, there are six people indicted in the case. One of them, Yanovich, managed to escape and is on the wanted list.
Slusar promised in the near future to provide detailed informa- tion on the schemes for withdrawing money from Moldasig and Asito in favour of Shor and Plahotniuc in 2018-2019.
The Indian group has set up a branch in Bucharest, through its Spanish subsidiary, to prepare the launch of its local operations.
Sandhar's strategy is developing production facilities close to the customers and the growth of the local automobile industry explains the investment.
The Indian group has set up a branch in Bucharest, through its Spanish subsidiary, to prepare the launch of its local operations. Newly registered Sandhar Technologies RO has a share capital of RON1mn (€0.2mn) and is wholly owned by Sandhar Technologies Barcelona, a company owned by Sandhar Technologies.
On the LinkedIN page of Sandhar Technologies Barcelona,
the group says it already operates finishing centres in Poland and Romania, and a manufacturing plant in Mexico. But while