An oligarch who allegedly masterminded a money laundering scheme that flooded Europe and the USA with billions in Russian money has appeared in court.
Former Moldovan MP Veaceslav Platon, 52, is accused of being involved in an enterprise which saw vast sums of criminal cash pass through the country’s banking system with the help of corrupt judges.
Platon is wanted in his home country on charges of corruption, money laundering and ‘putting into circulation of counterfeit money or securities’.
Beneficiaries of the funds – believed to be at least £16billion but reportedly as high as £65billion – have allegedly invested the laundered money in businesses and high-end property in London and other cities in wealthy nations, as well as splashing out on luxury goods.
He was first arrested in Ukraine in 2016, before being extradited to Moldova just a month later in a jet used by the country’s former president.
There he was given a 25-year prison sentence after two behind-closed-doors trials, before being controversially acquitted and released.
Platon then arrived in the UK in July 2021 and immediately applied for political asylum after claiming he experienced ill treatment in Moldovan prisons.
He was re-arrested in the cells at Westminster Magistrates’ Court in June this year after a fresh arrest warrant was issued by District Judge Daniel Sternberg on the extradition request by Moldova.
Veaceslav Platon, pictured, an oligarch who allegedly masterminded a money laundering scheme that flooded Europe and the USA with billions in Russian money, has appeared in court
The former Moldovan MP is accused of being involved in a scheme which saw vast sums of criminal cash through the country’s banking system with the help of corrupt judges
The oligarch is now on bail living in a multimillion-pound apartment in Canary Wharf.
Platon appeared at Westminster Magistrates’ Court on Monday, speaking only to confirm his personal details, assisted by a Russian interpreter.
He appeared in court with his cousin Marina Marohina, 35, who is accused of ‘being a bank manager with Moldinconbank…and [conspiring] with others to defraud the bank of approximately $279.000’.
James Stansfield, representing Platon, said: ‘Mr Platon stands accused of being involved in money laundering to the scale of £22billion allegedly linked to the Russian federation.
‘He is a high-profile political individual in Moldova. To put that in context, he has previously been extradited from Ukraine to Moldova. When the government changed in Moldova, he was released and the charges were squashed against him.
‘We say these are renewed politically motivated charges. We don’t accept the offences are extradition offences.
‘His assets have either been seized by the Moldovan authorities or have been frozen. He was able to raise some money for representation.
‘When he was released from custody, he has negotiated a loan for legal fees, and now his solicitors have established a payment plan with those funds.
Platon was arrested in Ukraine in 2016. He was then extradited to Moldova in a jet used by the country’s former president just a month later
‘Because of the history of torture, we are also looking at a medical expert to substantiate any evidence of scarring.’
Hannah Hinton, defending Marohina, said: ‘There was evidence from three experts. We had a discussion where one of the experts has already filed a report.
‘We are in agreement to adjourn to get more evidence and to wait for the Moldovan government to respond.
‘The government has had nearly seven months with these reports, provided by the experts, and I found it surprising that there has not yet been a response. There’s plenty of other evidence that needs to be obtained.’
District Judge John Law said: ‘There are a number of reasons why this hearing should be vacated, even though I am reluctant to do so.’
The pair were released on conditional bail ahead of their full extradition hearing, expected to take place in April or May next year.
Platon – said to be one of the wealthiest people in Moldova with business interests in sugar and banking, as well as investments in atomic energy in Ukraine – was an MP in his home country from 2009-10.
He is also reportedly wanted in Russia, where he has citizenship, for illegally withdrawing hundreds of millions of pounds of funds.
In 2023, a Moscow court convicted him in his absence for these offences and sentenced him to 20 years in prison.
