Romania seizes $7M from crypto entrepreneur linked to Călin Georgescu

By admin On Dec 11, 2024

On Saturday, $7 million were reportedly seized from the home of a crypto entrepreneur in Romania, during a high-profile investigation into financing election fraud.

36-year-old Bogdan Peșchir is best known by his TikTok handle “bogpr” for handing out bundles of cash to fellow creators. However, Peschir has made headlines for allegedly sending $381,000 to various TikTok accounts that have relentlessly promoted Romania’s surprise presidential front-runner, Călin Georgescu.

Far-right, pro-Russian independent Georgescu abruptly appeared on Romania’s political stage just weeks before the first voting round in late November. About 25,000 TikTok accounts with a combined following of 8 million were suddenly dedicated to promoting this obscure, anti-NATO engineer.

Weeks later, over 9.4 million Romanians cast their first ballots; Georgescu shocked the nation when he came out on top.

Călin Georgescu via Politico.

His sudden popularity has been categorized as Russian interference by Romania’s president Klaus Iohannis, who together with the US believes Georgescu unlawfully gained electoral coverage when campaigning wasn’t allowed. As a result, Romania has halted the second round of voting and has launched a full-scale investigation into election fraud.

The hunt has led to Peșchir, who’s suspected of spending €1 million ($1.05 million) financing Georgescu’s campaign with criminal, money-laundered funds.

Romania’s Supreme Council of National Defense has released records that say between October 24 and November 24, Peșchir “made payments worth $381,000 […] to users of some TikTok accounts involved in promoting [Georgescu], including after the end of the electoral campaign.” This would be in violation of Romanian law.

However, Peșchir insists his donations were independent and not tied to any agreements. He emphasized his support for Georgescu was voluntary and accused the media of harassment — even threatening to sue.

Bogdan Peșchir via RadioFreeEurope.

Only, the TikToker’s ties to cryptocurrency have raised further questions. His business dealings include associations with BitXATM, a Romanian crypto ATM firm that suffered a theft scandal in 2016. Its founder, Gabrial Prodanescu, accused a former employee of the crime. Peșchir later testified at the trial, which ended in the man’s conviction.

BitXATM stopped updating its website and several users claimed they lost their funds. Prodanescu then opened another crypto firm in the UK under the same name, along with an extra called Globaya LTD. Peșchir is listed as an employee of Globaya.

Authorities are also concerned that Peșchir’s declared income is inconsistent with his luxurious lifestyle, which includes driving a Porsche and a BMW. The TikToker denies this, saying “I have income from other sources, completely legal, that are declared and taxed.”

As for the accusations of financing Georgescu’s controversial rise, he maintains that he did nothing wrong. “I don’t even know [Georgescu] personally,” Peșchir said, “and I don’t feel that endorsing a cause that I support is unethical.”

“The attacks on the system […] motivate me even more to support Călin Georgescu,” he added.

The Kremlin denies interfering in Romania’s elections, classifying it as an “unprecedented outburst of anti-Russian hysteria.”

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