Plahotniuc, supposedly imposed Moldova Agroindbank Commercial Bank to buy from him Codru hotel because it was not profitable. The statement was made by the ex Prime Minister Ion Sturza, during the TV show În PROfunzime on PRO TV Chisinau.
The businessman said “This is a dubious and highly controversial thing. I think Agroindbank agreed to be part of a transaction that raises many questions. To justify that the current building is not spacious enough for the bank when there are so many other buildings and land available, is a highly controversial decision made in a hurry. A nice bank was involved in this thing namely during the elections, when all the people’s attention is concentrated on Maia Sandu and Igor Dodon.”
Ion Sturza considers that Ilan Shor was also involved in this transaction and that there were used the money from the stolen billion: "Apparently Shor has made a deal with Vlad Plahotniuc. Hotel Codru stayed on the property market with 7 million euro. Plahotniuc wanted to escape as the investments were pretty high. So he found Ilan Shor ".
The management of Moldova Agroindbank announced that will relocate in a few months, the bank's head office in that building. Moldova Agroindbank is under special supervision of the National Bank, after a group of people tried to take about 40 percent of the bank's shares.
Codru hotel was privatized in 2008, when the Minister of Economy was Igor Dodon. He has previously said that he was against this privatization, and has done on Vladimir Voronin’s instruction.
On October 30, 2008, following a proposal from the communist majority, the Parliament adopted in a final reading exclusion from the list of assets subject to privatization of the state company "Air Moldova" the Parliament Café and the hotel "Codru". A month later, Greceanîi government decided to include the three items in the list of companies facing privatization. Subsequently, 12 thousand 600 square meters of the hotel complex "Codru" were sold at ridiculous price of 50.3 billion RON to the offshore company "Daranian Holdings Limited" from Cyprus, given the fact that one square meter of an apartment in the cheapest area of Chisinau would have cost more.
The Cyprus company was represented in Moldova by Cristina Balan, who held the position of Executive Director of the Company "Prime Management". According to the media, Plahotniuc owns 90% of the company shares. Three weeks after the privatization, the "Codru" hotel was transferred to the offshore company "Investment Development Group", represented by the same person, Cristina Balan. Currently, the hotel is owned by "Codru Hospitality Ltd", whose sole founder is OTIV Prime Hospitality B.V. The same company is also the founder of the hotel "Nobil" and the night club "Drive", both controlled by Plahotniuc.
According to a report from the Court of Auditors, the state was prejudiced by at least 160 million lei, following this transaction.