From 2012 to 2013, offshore companies and individuals linked to Moldovan businessman Ilan Shor took control of Moldovan banks Banca de Economii, Banca Sociala, and Unibank. In November 2014, these banks then lent about $1 billion – about 15% of Moldovan GDP – to Shor-linked companies in Britain and Hong Kong. When the government bailed out the banks, the Moldovan currency (lei) and economy were devastated. According to a confidential report from U.S. investigative firm Kroll, the loans were “‘enabled by deposits from external financial institutions, including [three Russian banks] Gazprombank, Interprombank, and Alef Bank.’” Shor was arrested in 2015 for money laundering and embezzlement, although he was released from house arrest in June to compete in Orhei’s mayoral elections, which he won. Massive protests erupted, and the EU, IMF, and World Bank all “[froze] their financial assistance to Moldova.” On October 19, 2015, Moldova’s central bank revoked the banks’ licenses and initiated their liquidation. When the government resigned under pressure from protesters, “Pro-Kremlin parties rushed to exploit the crisis.” Further investigation revealed that some of Shor’s shell companies were also involved in the $20.8 billion money laundering scheme known as the Russian Laundromat.