Former manager of ELAT mall, sentenced to 9 years for loan-related scam

A former president of ELAT holding, a big mall in Chisinau, has been sentenced to 9 years of jail for seizing MDL3,200,000  from failed Universalbank.

According to the prosecutors, in 2011, chairing the boards of the companies ELAT and SIGMA, the indicted received a loan from that bank, providing fake information.

Since the contract guaranteeing the loan was concluded illegally, the indicted caused damages to the bank equaling the loan amount.

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