Five arrests in EUR 18mn fraud scandal

Two directors of the Agroziv company and three directors of public companies in Zitiste have been arrested. They were arrested on suspicion of abuse of powers, money laundering and fraud in the region of EUR 18mn, according to the Interior Ministry. Five arrests in EUR 18mn fraud scandal Those arrested included Agroziv’s owner and president, Miroslav Zivanov (57) from Pancevo, company CEO Zoran Prebiracevic (54), who are suspected of abuse of powers and money laundering, as well as illegal actions during the privatization of more than 30 companies in Serbia, according to a police statement. Zivanov and Prebiracevic made deals with the directors of public companies that would be financially detrimental to these companies, without the knowledge of the Privatization Agency Also arrested were the director of the Holding Juko company from Zitiste Milan Antic (55), director of Juko Sales from Zitiste Sandor Juhas (60), and former director of the Juko Slaughterhouse from Zitiste, Djura Budimir (55). They are accused of abuse of powers, and enabling Agroziv to purchase property illegally worth EUR 56mn, the Interior Ministry stated. It was stated that by purchasing Agroziv shares, payment obligations were created that the public companies could not meet, after which Agroziv repossessed the entire assets of the companies in question based on the non-existent debt. On the basis of illegal privatizations, Agroziv registered turnover of EUR 56mn in reports from 2004-2007. With this, the basis for paying dividends of EUR 18.6mn was created, which Prebiracevic illegally paid to the company’s majority stakeholder, Zivanov, thus committing the crimes of abuse of powers and money laundering. The police will continue looking into the privatizations of other companies, according to the statement.

Five arrests in EUR 18mn fraud scandal

Those arrested included Agroživ’s owner and president, Miroslav Živanov (57) from Pančevo, company CEO Zoran Prebiračević (54), who are suspected of abuse of powers and money laundering, as well as illegal actions during the privatization of more than 30 companies in Serbia, according to a police statement.

Živanov and Prebiračević made deals with the directors of public companies that would be financially detrimental to these companies, without the knowledge of the Privatization Agency

Also arrested were the director of the Holding Juko company from Žitište Milan Antić (55), director of Juko Sales from Žitište Šandor Juhas (60), and former director of the Juko Slaughterhouse from Žitište, Đura Budimir (55).

They are accused of abuse of powers, and enabling Agroživ to purchase property illegally worth EUR 56mn, the Interior Ministry stated.

It was stated that by purchasing Agroživ shares, payment obligations were created that the public companies could not meet, after which Agroživ repossessed the entire assets of the companies in question based on the non-existent debt.

On the basis of illegal privatizations, Agroživ registered turnover of EUR 56mn in reports from 2004-2007.

With this, the basis for paying dividends of EUR 18.6mn was created, which Prebiračević illegally paid to the company’s majority stakeholder, Živanov, thus committing the crimes of abuse of powers and money laundering.

The police will continue looking into the privatizations of other companies, according to the statement.