Armashu Octavian (Octavian Armasu)

Armashu Octavian (Octavian Armasu)

Biography

2023: Resignation as President of the National Bank of Moldova

On December 21, 2023, the Moldovan parliament dismissed Octavian Armasha from the post of head of the National Bank (NBM). The decision was made after an investigation into a corruption scandal related to the withdrawal of $1 billion from several banks of the republic.

Armasha was dismissed by the votes of 81 [out of 101] deputies, "Radu Marian, chairman of the parliamentary commission on economics, budget and finance, wrote on his Telegram channel.

According to him, "some responsible persons in the NBM" are engaged in "the protection of the beneficiaries of fraud." According to him, the leadership of the National Bank did nothing about the employees, who, among other things, testified in court in favor of businessman Ilan Shor, who was hiding from Moldovan justice (sentenced in absentia to 15 years in prison in the case of theft of $1 billion from the country's banks). Octaviana Armashu has held the chair of the governor of the National Bank since 2018. Who will head the regulator after Armashu is not reported by December 22, 2023.

As TASS reminds, the beginning of a corruption scandal related to the withdrawal of $1 billion from Moldovan banks dates back to 2015. It led to protests, the downfall of two governments and a ruling coalition of pro-European parties that enjoyed US and EU support. The money was withdrawn through Banca de Economii, Banca Sociala and Unibank, controlled by banker Ilan Shor, who was convicted in the case in 2017, according to detective agency Kroll, which was conducting an investigation commissioned by the Moldovan government.

Later, the investigation showed that the theft was planned by a criminal organization led by the leader of the Democratic Party of Moldova Vladimir Plahotniuc, Shor and banker Vyacheslav Platon. They all left the country.^[1]

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