Moldova Demands Transparency on Investment Platforms and Fraud Schemes
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“We want to know who is behind investment platforms” – Grigore Novak

The problem of financial pyramids and fraudulent schemes in the online environment is back on the agenda of the legislative body. Grigore Novak, an opposition MP and chairman of the commission for human rights and interethnic relations, demanded official explanations from the Interior Ministry's leadership regarding the measures taken against platforms that promise quick earnings but "deprive citizens of their last savings".
Svetlana Rudenco Reading time: 1 minute
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Grigore Novak

Grigore Novak

The parliamentarian drew attention to the growing number of new social media schemes being actively promoted by influencers and bloggers, all shortly after the high-profile scandal surrounding the TUX investment platform.

“Society has been shaken by the TUX investment platform scandal. We see that recently there have appeared a lot of bloggers, Influencers and so on, who promote already other financial pyramids, various investment platforms, misleading people and siphoning the last money from the pockets of Moldovan citizens,” Novak said at the parliamentary session.

The MP emphasized that the aggressive advertising in the online space is actually a criminal scheme speculating on the financial vulnerability of the population. According to him, the previous discussions in the specialized committees did not provide sufficient clarity on this issue, which is why Minister Daniella Misail-Nikitin was asked to be invited to the plenary session.

“… To present information on the situation of the investment platforms operating on the territory of Moldova, in particular on their number and on who is behind these platforms. We want clarity: what has been done in the field of TUX and other investment platforms?” – the deputy added.

Despite the arguments made about the risks to which citizens are exposed, the attempt to bring the topic to a broad discussion failed. The proposal to hear the Interior Minister did not get the necessary number of votes – it was supported by only 32 MPs.

We would like to remind you that the alleged losses of the participants of the so-called TUX investment platform are estimated at about 48 million euros.


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