The actual CEO is Plahotniuc’s confidant, the ex one – millionaire

Recently Moldtelecom announced the assignment of new CEO – Dan Mitriuc. Later mass media published information that he is a confidant of Vlad Plahotniuc.

Considering that the directorship of Moldtelecom is a desired post, we decided to take a glance on all the achievements made by ex-CEOs of the company, particularly on those which were and still are concealed from publicity.

Earlier the company was conducted by Vitalie Iurcu who is currently the Prime-Minister of Economic Affairs. During seven years he managed to reach a fair level of financial well-being: Porsche Cayenne (around 1 million leis), land property worth millions, businesses (via intermediaries).

moldtelecom.jpgSource: zdg.md

According to investigation made by Ziarul de Gardă, while being the CEO of the company Iurcu moved from a 94 m2 apartment to a luxury house (worth approximately 6 million leis). The estate was purchased in 2010, a year after he was assigned as CEO of Moldtelecom. Just the same way in 2013 Iurcu’s family purchased a real estate with land property of 770 sq.m. which would have been purchased from nephew of Iurcu.

Apart from everything mentioned above, ex-CEO holds several companies which are: The individual enterprise Iurcu Vitalie, Progestact SRL (the company is also administrated by ex-minister of Internal Affairs Dorin Recean and ex-deputy of communists Iurie Muntean) and "Hellis&Partners Immobiliare" (Romania). The activity of some companies mentioned above is intercrossed with the activity of Moldtelecom. However, according to the tax return, during last several years Iurcu didn’t obtain any profits from these companies.

Other companies (in agricultural sphere) are conducted by Iurcu by the medium of his nephew Dmitrii Mironov and another relative (his godfather) who also were employed by Moldtelecom.

Among other issues Moldtelecom was a partner of several business-projects arranged by Iurcu’s spouse, namely “Art Studio Picasso”.

Oficially, being a CEO of the company for 6 years Iurcu obtained approximately 6 million leis (around 0.5 million leis per year in salary terms). By at the end of 2014 his tax return was assessed by NIC, but the matter was kept quiet.

Before becoming CEO of Moldtelecom, Iurca was holding position of chief of National Regulatory Agency for Energy (an enterprise of doubtful character). Meanwhile, the resignation of Iurcu is not confirmed, keeping in mind that the enterprise in under conduction of Ministry of Economics where Iurcu holds rank of vice-minister.

Another CEO of Moldtelecom, Gheorghe Ursachi, was put on charge of corruption for causing large scale losses to enterprise (around 40million leis were spent by him on public purchases) and of refusal to provide accurate information about possessed goods in tax return for years 2004-2009.

Why Moldtelecom?

CEO position in Moldtelecom is more of strategic. Company is the one to establish an order of TV broadcast. During walkouts which took place in January near Parliament building the company decided to block a number of telecasts. Furthermore, Moldtelecom provides traditional landline services, broadband Internet connectivity, 3G network and digital video broadcasting, all of these making it the only national operator on telecommunication market.

The salary of CEO is bigger than even that of a Member of Parliament, reaching the mark of 50 thousand leis per month.

Piața ale furnizorilorSource: rise,md

By the end of 2015 the public prosecution office opened the files regarding to financial and economic activity of Moldtelecom, as well as of Moldovagaz and Metalferos and analyzed the actions taken by company’s management. The actions were taken after an indirect accusation made in the Parliament by Vlad Filad at the feet of Vlad Plahotniuc: “Now make it plain how many millions have you laundered via Moldtelecom, how many hundreds of millions – via Metalferos, how many millions are raised on pipeline and electricity tariffs. Then you’ll answer the question why do we have such low living standards in this country. That puppeteer (supposed to mean Plahotniuc) knows how to build his game”. This way the actions of company’s administration were analyzed on the criteria of committing abuse and excess of power that caused damage to customers and public interests. The details of the investigation were not revealed, but as we already know Vitalie Iurcu decided to take another and this time even more responsible position, becoming the Vice-President of Economic Department of Republic.

Through the Unite Moldtelecom was involved in the scandal with the concert on September, 6 in 2015 (at the time there were protests in Chishinau). Besides the fact that Unite showed losses, it organized an expensive concert (about 4-5 mln lei or 5% of the profits of company).

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