Romanian Crypto Star Faces $7M Seizure in Alleged Election Fraud Scandal

Romanian authorities seize $7M from crypto entrepreneur Bogdan Peșchir amid accusations of illegally funding far-right presidential candidate Călin Georgescu’s campaign.

Romanian authorities have seized $7 million from the residence of Bogdan Peșchir, a crypto entrepreneur and popular TikToker known for his lavish giveaways, as part of an investigation into election fraud involving far-right, pro-Russian presidential candidate Călin Georgescu.

Peșchir, 36, widely recognized by his TikTok handle “bogpr,” is accused of financing Georgescu’s campaign through illegal means. Allegations center on payments totaling $381,000 made to TikTok accounts promoting Georgescu, who shocked the nation with his unexpected success in Romania’s first round of presidential voting.

Călin Georgescu, an anti-NATO engineer, emerged abruptly on Romania’s political scene mere weeks before the election, capturing widespread attention via TikTok. Approximately 25,000 TikTok accounts, amassing over 8 million followers, launched a coordinated promotional effort that propelled Georgescu to victory in the first round. Romanian President Klaus Iohannis labeled this surge in popularity as Russian interference, leading to the suspension of the second voting round and triggering an extensive investigation.

Peșchir’s connection to the campaign is now under intense scrutiny. He is suspected of channeling €1 million ($1.05 million) in laundered funds to Georgescu’s campaign. Romanian legal records indicate Peșchir made payments to TikTok accounts promoting Georgescu even after the official electoral campaign ended, violating local election laws.

Despite the allegations, Peșchir denies any wrongdoing. He claims his support for Georgescu was voluntary and unrelated to any agreements. “I don’t even know [Georgescu] personally,” Peșchir stated. “Endorsing a cause I support isn’t unethical.”

Authorities are also examining Peșchir’s financial dealings, including his involvement with BitXATM, a Romanian cryptocurrency ATM company embroiled in a 2016 theft scandal. Peșchir testified during the trial that convicted a former employee, and BitXATM later faced claims of lost customer funds. Peșchir also worked for Globaya LTD, a UK crypto firm with ties to BitXATM’s founder.

Peșchir’s luxurious lifestyle, including ownership of high-end vehicles like a Porsche and a BMW, has further fueled suspicion. Investigators believe his declared income is inconsistent with his extravagant spending habits.

Georgescu’s meteoric rise has drawn significant criticism, with both Romanian and U.S. officials alleging he unlawfully gained media attention during a prohibited campaigning period. Meanwhile, the Kremlin has dismissed accusations of meddling in Romania’s elections as “anti-Russian hysteria.”

The unfolding investigation underscores concerns over cryptocurrency’s role in financing political campaigns and its potential to bypass traditional financial regulations.

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