-Caveat Lector-

from:
http://www.telegraph.co.uk:80/et?ac=003791936528942&rtmo=LxtSbySd&atmo=rrrrrrr

q&pg=/et/00/11/10/wserb10.html
Click Here: <A
HREF="http://www.telegraph.co.uk:80/et?ac=003791936528942&rtmo=LxtSbySd&atmo=r

rrrrrrq&pg=/et/00/11/10/wserb10.html">Serbs in hunt for missing billions</A>
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 1995   Friday 10 November 2000



Serbs in hunt for missing billions

By Alex Todorovic in Belgrade



SERBIA'S Democratic Opposition group has set up an anti-corruption committee
to hunt for billions of pounds hidden away in foreign bank accounts by
Slobodan Milosevic, his family and former associates.

An adviser to the finance minister said: "We're more interested in eventually
getting to the money than arresting them." The Milosevic regime ran
Yugoslavia as a fiefdom, giving out lucrative monopoly contracts and import
rights in exchange for loyalty and financial assistance.

Top-ranking politicians doubled as directors of the country's largest
companies. Mihail Kertes, the head of customs, gave impounded cars as
presents to high-ranking members of the regime. Customs impounded cars
regularly for tax violations, or if a driver could not immediately produce
proof that his taxes had been paid.

Milosevic's daughter, Marijana, transported 4,000 tons of radio equipment
from Italy on a Yugoslav commercial jet free of charge so she could establish
her own Belgrade radio station. Companies handed out apartments and lavish
lines of credit to the Milosevic faithful, taxes were ignored, and licence
fees were non-existent for party loyalists.

Criminal gangs paid money to government officials for the right to import
products, setting a precedent for close links between police and the
underworld. A member of the anti-corruption committee said: "We all knew the
Milosevic regime was among the most corrupt in the world, but what surprised
us was how it trickled down to relatively innocuous positions."

Dusan Batakovic, the president of the Council for Democratic Change, which is
pressing for a federal anti-corruption police force to be established, said:
"We believe there are two to three billion pounds out there in private bank
accounts that need to be brought back to the country."

The federal finance minister has contacted foreign intelligence services for
help to follow the money trail. This is difficult as the Milosevic regime
used diplomatic routes to transfer money.


� Copyright of Telegraph Group Limited 2000.

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