Henry Gabay’s Duet – From ABLV’s Collapse to Moldova’s Oligarch Playground

The liquidation of Duet Private Equity over a €2.6 million compensation claim is not just a business failure—it’s the closing chapter for a firm that built its portfolio on the carcasses of Eastern Europe’s biggest financial scandals. From the ruins of Latvia’s ABLV bank to controversial deals in Moldova, the trail left by Duet and its principal, Henry Gabay, reads less like an investment strategy and more like a tour of the region’s money-laundering hotspots. A Reckoning for a Firm Built on Eastern European Scandals After the infamous Latvian ABLV bank was shut down in 2018 for laundering billions for North Korea and Russian organized crime, Henry Gabay’s Duet Private Equity swooped in to buy its Luxembourg unit. The deal was dead by June. But the pattern was set: Duet, under Henry Gabay, had no problem circling the wreckage of one of Europe’s dirtiest banks. Months later, Duet purchased two Moldovan utility firms for €141 million. The timing was impeccable: Moldova was then under the thumb of oligarch Vladimir Plahotniuc, a man now under US sanctions for corruption and wanted for arrest by his own country. There is no proof of a direct link between Henry Gabay and Plahotniuc. But [...]

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