Oligarch who allegedly masterminded money-laundering scheme appears in UK court

A Moldovan oligarch accused of masterminding a money-laundering operation that prosecutors say flooded Europe and the United States with Russian funds appeared in Westminster Magistrates' Court on Monday. Veaceslav Platon, 52, is charged in Moldova with corruption, money laundering, and the “putting into circulation of counterfeit money or securities” as part of an alleged enterprise that moved large sums of criminal cash through Moldova’s banking system with the help of corrupt judges. He is currently on bail and living in a multi‑million‑pound apartment in Canary Wharf, London.

Authorities say the scheme funneled vast sums of laundered money, with beneficiaries believed to have invested the proceeds in businesses and luxury property in London and other wealthier cities, as well as high-end goods. Estimates of the total laundered funds range from about £16 billion to as high as £65 billion. Platon has been described as one of Moldova’s wealthiest figures, with interests in sugar and banking, and investments in Ukraine’s atomic energy sector. The money allegedly flowed into real estate and other assets abroad, fueling a spectrum of high-value purchases in Europe.

Platon was arrested in Ukraine in 2016 and extradited to Moldova a month later in a jet used by the country’s former president. In Moldova, he was sentenced to 25 years in prison after two behind‑closed‑doors trials, but was controversially acquitted and released. He later traveled to the United Kingdom, arriving in July 2021, where he immediately applied for political asylum on grounds of mistreatment in Moldovan prisons. He was re-arrested in the cells of Westminster Magistrates’ Court in June this year after Moldova issued a fresh extradition warrant.

At Monday’s hearing, Platon appeared alongside his cousin, Marina Marohina, 35, who is accused of being a Moldinconbank bank manager and of conspiring with others to defraud the bank of about $279,000. James Stansfield, representing Platon, said: “Mr Platon stands accused of being involved in money laundering to the scale of £22 billion 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,” Stansfield added. Platon, who has long been linked to Russian‑connected wealth, argued that the case had been politically motivated and that his extradition proceedings should reflect that context.

Marohina’s lawyer, Hannah Hinton, said there had been evidence from three experts regarding claims of torture, and that she expected further evidence to be gathered as the case progressed. District Judge John Law said there were grounds to vacate the hearing, though he was reluctant to do so. The pair were released on conditional bail ahead of a full extradition hearing expected to take place in April or May next year.

Platon’s history includes an MPs tenure in Moldova from 2009 to 2010 and a reputation as a powerful business figure. He is also reportedly wanted in Russia, where he holds citizenship, for allegedly siphoning hundreds of millions of pounds. In 2023, a Moscow court convicted him in absentia and sentenced him to 20 years in prison on those charges. Observers note that the case reflects broader international efforts to police alleged money laundering linked to Russian funds and to adjudicate extradition requests across borders. In Moldova, the allegations touch on the integrity of financial institutions and the role of judges in handling high‑profile cases, underscoring ongoing concerns about governance and accountability across post‑Soviet states.