According to the Council’s decision of July 14 this year, these investments fall under a law that prohibits any activity related to the defense industry without prior approval.
“Denial of prior approval is granted for investments in areas of importance for the security of the State for Topaz SA,” reads the Council’s opinion. According to Article i) of Law No. 174/2021, this refers to any investment that is aimed at the production, export, introduction into circulation (import) of weapons, ammunition and military equipment, technologies and services that can be used in the production and use of nuclear, chemical, biological and missile weapons.
The decision was made in connection with the active struggle for control over the Topaz plant, which belonged to the Soviet military-industrial complex and was taken over by Russia’s United Engine Corporation (UEC). Today it is part of the state corporation Rostec and is under international sanctions.
Logos Press was told by the Council for the Review of Significant Investments for State Security that the decision is a reaction to the change of management of Topaz. Since 2023, this company has not undergone investment screening, a mandatory procedure, especially when the company is linked to a foreign owner and is under sanctions. For two whole years, Topaz management has received notices and calls from the Council asking to undergo the screening and confirm the requested data. But there was no response.
And on July 10 of this year, the Council’s powers were expanded: it was given the right to request almost any information. This list now includes information on investments, shareholder structure, beneficiaries, financial status, depending on the type and residency of the investor. The Council was given the right to request access to databases and information from public registers, as well as from sources held by private entities.
Meanwhile, representatives of Topaz are actively trying to legalize the sale of the plant and the change of its management. It should be noted that in October 2023, the plant was sold for 16 million euros to a Russian company, which, according to some sources, is controlled by a Moldovan businessman. In March this year, Turkish citizen Yuksel Maxim Onur was appointed as the new director of Topaz, and Oscar Weissman was appointed as his deputy. And again – bypassing the screening procedure.
As a result, the Council for the Review of Investments Significant for State Security imposed a ban on any possible investments related to Topaz JSC, making it mandatory to coordinate the change of ownership and management structure with the state authorities.
It also suspended ODK’s voting rights and blocked the ability to convene general meetings or change management.
In the Council for Logos Press confirmed that the only legal administrator of Topaz today is Inna Linnik. It is she who is registered in this statute with the State Services Agency and is responsible for the enterprise.
According to Ms. Linnik herself, she still has no access to the plant. At the same time, Topaz has solid assets of 400 million lei on its balance sheet, including factory equipment and a 4 ha land plot in the central part of Chisinau.
“I would like to point out that on June 10 this year, an Order of the SIS Director was issued, which included Topaz in the list of persons under restrictive measures by the UN Security Council and the EU (hyperlink). Based on this, on the same day the STS blocked all accounts and assets of the company.(LP: the tax measure affected 97.72% of the company’s shares owned by ODK through intermediaries, as well as minority stakes in other shareholders). However, on June 20, 470 thousand lei were debited from the account of Topaz JSC on the basis of a collection decision of bailiff Iacob Miron. This money went in favor of Oscar Vaisman. The question arises: how is it possible? On what basis was almost half a million written off? For what purposes? What document was the basis, and who signed it on behalf of the company? I, as an administrator, do not know this”.
Recall that many government agencies should be involved in the implementation of measures to block assets and accounts. In particular – the Cadastre of Immovable Property, the State Services Agency, the Central Unified Securities Depository, the National Financial Market Commission and other agencies that can facilitate the transfer of assets to the subject of restrictions. But considering how easily 470 thousand lei were debited from the blocked (!) account, few people will be surprised by larger transactions.
“I cannot control the enterprise remotely, tracing all illegal transactions,” Inna Linnik said. – If tomorrow they start producing drones at Topaz, it will not be me who will be responsible, but those who turned a blind eye to everything that happens there”.
