Ex-Railways chief to lose property

A request for the seizure of property of former Serbian Railways Director Milanko Sarancic will be filed, it has been revealed. The news has been confirmed in Belgrade on Monday by the Justice Ministry State Secretary Slobodan Homen. Ex-Railways chief to lose property The request will be filed keeping in mind the recommendation of the state public prosecutor that a financial investigation is mandatory for the crimes he is accused of, the official explained. “The state will in that way try to reduce the damage which was incurred to Serbian Railways in as the contentious contract was signed,” Homen said. Special Prosecution for Organized Crime recently finished its financial investigation into Sarancic's dealings, as well as those of his family and all those from the public company who had business connections with the former director, or are suspected of participating in illegal business. Among the property which will most likely be seized is a 108-square-meter company apartment in Belgrade, which Sarancic bought under "very favorable conditions". The Special Department of the Higher Court in Belgrade is conducting its investigation against Sarancic and three of his colleagues, who were arrested on June 2 in Belgrade, suspected of abusing office and incurring EUR 1.24mn damages to the company by purchasing trains from Sweden and Slovenia. The prosecution is looking into the acquisition of six diesel-electric locomotives from Slovenia and ten diesel motor vehicles from Swedish company Sweden Rail. The charges against Sarancic imply that "the purchase could have been done in Serbia". They group is believed to have obtained financial gain through illegal public procurement, and by introducing middlemen, among others foreign legal entities. Sarancic’s former assistant Zoran Milicevic, Director of the Investment Sector of Serbian Railways Dragoslav Pejcic and Milorad Celebic who made the deal to buy the locomotives through middle firms from Trieste and London, are also being investigated.

Ex-Railways chief to lose property

The request will be filed keeping in mind the recommendation of the state public prosecutor that a financial investigation is mandatory for the crimes he is accused of, the official explained.

“The state will in that way try to reduce the damage which was incurred to Serbian Railways in as the contentious contract was signed,” Homen said.

Special Prosecution for Organized Crime recently finished its financial investigation into Šarančić's dealings, as well as those of his family and all those from the public company who had business connections with the former director, or are suspected of participating in illegal business.

Among the property which will most likely be seized is a 108-square-meter company apartment in Belgrade, which Šarančić bought under "very favorable conditions".

The Special Department of the Higher Court in Belgrade is conducting its investigation against Šarančić and three of his colleagues, who were arrested on June 2 in Belgrade, suspected of abusing office and incurring EUR 1.24mn damages to the company by purchasing trains from Sweden and Slovenia.

The prosecution is looking into the acquisition of six diesel-electric locomotives from Slovenia and ten diesel motor vehicles from Swedish company Sweden Rail. The charges against Šarančić imply that "the purchase could have been done in Serbia".

They group is believed to have obtained financial gain through illegal public procurement, and by introducing middlemen, among others foreign legal entities.

Šarančić’s former assistant Zoran Milićević, Director of the Investment Sector of Serbian Railways Dragoslav Pejčić and Milorad Čelebić who made the deal to buy the locomotives through middle firms from Trieste and London, are also being investigated.