Kroll and Steptoe and Johnson representatives have presented an update on the progress of the investigation for recovering fraudulent assets in a meeting in Chisinau, organized at the initiative of the Parliament Speaker, Prime Minister and Governor of the National Bank.
The purpose of the meeting was to present the investigation findings to date and the proposed strategy for the recovery of the stolen funds in the estimated amount of 600 mln USD.
During the meeting, parties have discussed on further legal action, which will be undertaken on behalf of the Moldovan Government for recovering the stolen assets. The representatives of the Moldovan authorities have agreed to provide assistance and the political support in communication with some countries where an additional disclosure procedure is needed.
The strategy is focused on initiating legal proceedings in key jurisdictions to which some fraud funds have already been traced as well as continuing to trace the remainder of the stolen funds. It was discussed that first phase of the strategy will comprise a combination of civil and criminal legal actions, supported by evidence provided by the investigation team as well as targeted onsite investigation in Moldova.
The engagement and the reporting process going forward will be structured with the view to maximize the chances for recovery and to ensure that all stakeholders are engaged and kept up to date with progress.