Former Official Gazette boss arrested

B92 understands from sources close to MUP that the former chairman and financial director of the Official Serbian Gazette have been arrested.

Izvor: B92

Tuesday, 07.10.2008.

13:41

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B92 understands from sources close to MUP that the former chairman and financial director of the Official Serbian Gazette have been arrested. Branko Gligoric and Verica Dujovic were arrested this morning in Belgrade on suspicion of embezzling EUR 2mn. Former Official Gazette boss arrested It is suspected that this case could be linked to C Market and Ekoprodukt bonds. The Official Gazette allegedly fell into considerable liquidity problems with the purchase of C Market bonds from Mika Brasnjevic’s Ekoprodukt company. Gligoric was a Social Democrat MP, and also held a seat on the Belgrade Fair Board of Directors. When Vojislav Kostunica became prime minister Gligoric was replaced as head of the Belgrade Fair, only to be appointed Gazette boss on September 2, 2004. At the time, Gligoric claimed that he had left the Social Democrat Party and that he was no longer affiliated to any party. While head of the Gazette, the company received two awards for publisher of the year. When the case of the Bankruptcy Mafia exploded into the limelight, the media began speculating that the Official Serbian Gazette had bought C Market bonds from Ekoprodukt. Under the contract, Ekoprodukt was due to buy up these bonds, paying a monthly interest rate of 1.3 percent. The aim of the agreement was for Brasnjevic’s company to acquire funds, and for the Gazette to earn some money too. Once the Bankruptcy Mafia was exposed, Ekoprodukt went bust, and it was speculated that the Gazette would not be able to cash in its EUR 2.5mn and that all it would only be able to recoup a fraction of its investment. Gligoric explained that the Gazette had bought up C Market bonds from EkoProdukt in 2005 and that they had got all their money back, and that the same would have happened again had the Commercial Court not ruled to temporarily block all refunds on C Market bonds. Branko Gligoric (blic.co.rs)

Former Official Gazette boss arrested

It is suspected that this case could be linked to C Market and Ekoprodukt bonds. The Official Gazette allegedly fell into considerable liquidity problems with the purchase of C Market bonds from Mika Brašnjević’s Ekoprodukt company.

Gligorić was a Social Democrat MP, and also held a seat on the Belgrade Fair Board of Directors.

When Vojislav Koštunica became prime minister Gligorić was replaced as head of the Belgrade Fair, only to be appointed Gazette boss on September 2, 2004.

At the time, Gligorić claimed that he had left the Social Democrat Party and that he was no longer affiliated to any party. While head of the Gazette, the company received two awards for publisher of the year.

When the case of the Bankruptcy Mafia exploded into the limelight, the media began speculating that the Official Serbian Gazette had bought C Market bonds from Ekoprodukt.

Under the contract, Ekoprodukt was due to buy up these bonds, paying a monthly interest rate of 1.3 percent. The aim of the agreement was for Brašnjević’s company to acquire funds, and for the Gazette to earn some money too.

Once the Bankruptcy Mafia was exposed, Ekoprodukt went bust, and it was speculated that the Gazette would not be able to cash in its EUR 2.5mn and that all it would only be able to recoup a fraction of its investment.

Gligorić explained that the Gazette had bought up C Market bonds from EkoProdukt in 2005 and that they had got all their money back, and that the same would have happened again had the Commercial Court not ruled to temporarily block all refunds on C Market bonds.

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