Subotić expands on recent remarks

Stanko Subotic aka Cane spoke to Podgorica-based TV In last night on his relationships with prominent Serbian businessmen. Subotic, indicted in Serbia for organizing cigarette smuggling in the 1990s and often described as a controversial businessmen, answered questions from Geneva regarding loans allegedly given to Delta Holding owner Miroslav Miskovic and Milan Beko, worth EUR 50mn. Subotic expands on recent remarks Explaining the arrangement between him and the two businessmen for buying the Vecernje Novosti company, he said that Miskovic and Beko offered that he buys the daily instead of German WAZ Media Group, and then to give them the shares later. “Since it is present in Serbia, WAZ tried to buy the shares of Vecernje Novosti on the Belgrade Stock Exchange. However, they were unable to do so because of changes in the laws that took effect the day before the stocks were on the market. We later found out why that was done and that it was done by a group that was putting pressure on the then Serbian government. These people later got in contact with us, which means that they were Beko and Miskovic, claiming that they were the ones who could get that job done on behalf of the Serbian government,” Subotic said. He claims that they borrowed money from him. “I spoke with WAZ, with Mr. (Bodo) Hombah, about the information I received and he said it was alright, if they can get that done, as far as they are concerned, it was acceptable. I met with Miskovic and Beko, we spoke about the details and they asked me for EUR 26mn, adding that with that money they could buy 60-65 percent of the Novosti shares, which would then naturally be given to WAZ,” Subotic said. “I gave Mr. Hombah the details of the conversation, and he accepted that. I made a contract, I received a mandate from WAZ that gave precise details for the contract. I made the same agreement with Beko and Miskovic through several of their companies, I can give you the names later so that you can get the documents from them. I paid them EUR 26mn and they bought the shares. They paid EUR 8-9mn for the shares, which means that EUR 26mn minus eight or nine was their profit, the profit they took as people organizing a sale outside of the stock exchange, as mediators and practically sellers of state goods,” Subotic said. When B92 asked WAZ for a reaction, the company said in a written statement that all money for the purchase of Novosti was given directly by the company and that all other claims are false. Subotic also said that he saw a profit of EUR 24mn in a job he did with Beko. Subotic said that after borrowing EUR 50mn from him, Beko returned only EUR 16mn after two years and still owes him EUR 8mn. He denied claims that he has launched attacks against Miskovic and Beko in order to solve a problem he had with alleged crime boss and drug smuggler Darko Saric. Subotic also talked about how he met Saric several times "but did not know that he was involved in criminal activities". He also claims that it was Miskovic's son Marko who introduced them. Asked where he gets so much money from when he is able to loan out EUR 50mn, Subotic said that he has “been in serious business for the last 30 years”, has lived in France since 1979, "and has for 25 years lived in France and Switzerland”. He also said that he was in contact with OLAF, the European Anti-Fraud Office, and that he was one of the main witnesses in the process regarding tobacco smuggling. He said that documents exist in OLAF that can confirm that.

Subotić expands on recent remarks

Explaining the arrangement between him and the two businessmen for buying the Večernje Novosti company, he said that Mišković and Beko offered that he buys the daily instead of German WAZ Media Group, and then to give them the shares later.

“Since it is present in Serbia, WAZ tried to buy the shares of Večernje Novosti on the Belgrade Stock Exchange. However, they were unable to do so because of changes in the laws that took effect the day before the stocks were on the market. We later found out why that was done and that it was done by a group that was putting pressure on the then Serbian government. These people later got in contact with us, which means that they were Beko and Mišković, claiming that they were the ones who could get that job done on behalf of the Serbian government,” Subotić said.

He claims that they borrowed money from him.

“I spoke with WAZ, with Mr. (Bodo) Hombah, about the information I received and he said it was alright, if they can get that done, as far as they are concerned, it was acceptable. I met with Mišković and Beko, we spoke about the details and they asked me for EUR 26mn, adding that with that money they could buy 60-65 percent of the Novosti shares, which would then naturally be given to WAZ,” Subotić said.

“I gave Mr. Hombah the details of the conversation, and he accepted that. I made a contract, I received a mandate from WAZ that gave precise details for the contract. I made the same agreement with Beko and Mišković through several of their companies, I can give you the names later so that you can get the documents from them. I paid them EUR 26mn and they bought the shares. They paid EUR 8-9mn for the shares, which means that EUR 26mn minus eight or nine was their profit, the profit they took as people organizing a sale outside of the stock exchange, as mediators and practically sellers of state goods,” Subotić said.

When B92 asked WAZ for a reaction, the company said in a written statement that all money for the purchase of Novosti was given directly by the company and that all other claims are false.

Subotić also said that he saw a profit of EUR 24mn in a job he did with Beko. Subotić said that after borrowing EUR 50mn from him, Beko returned only EUR 16mn after two years and still owes him EUR 8mn.

He denied claims that he has launched attacks against Mišković and Beko in order to solve a problem he had with alleged crime boss and drug smuggler Darko Šarić.

Subotić also talked about how he met Šarić several times "but did not know that he was involved in criminal activities". He also claims that it was Mišković's son Marko who introduced them.

Asked where he gets so much money from when he is able to loan out EUR 50mn, Subotić said that he has “been in serious business for the last 30 years”, has lived in France since 1979, "and has for 25 years lived in France and Switzerland”.

He also said that he was in contact with OLAF, the European Anti-Fraud Office, and that he was one of the main witnesses in the process regarding tobacco smuggling. He said that documents exist in OLAF that can confirm that.