Prosecutors have detained a Moldovan mayor on suspicion of money laundering connected to the disappearance of $1 billion from three Moldovan banks in 2014.

Prosecutor Adriana Betisor said Ilan Shor, mayor of the town of Orhei, was detained late Wednesday for 72 hours in connection with huge loans given by Savings Bank where he was chairman of the board from April to Nov. 28, 2014.

A court will rule whether to arrest him for 30 days. His lawyer, Iulian Balan, called the detention illegal.

U.S. investigative company Kroll, which is probing the disappearance of the money from three Moldovan banks in 2014, says about $1 billion was transferred from the Savings Bank on Nov. 24-26, 2014.

Days later, the state took control of the bank.