SIPA arrested several persons linked with Bobar bank irregularities

SIPA arrested several persons linked with Bobar bank irregularities

Banja Luka, March 31, 2016/Independent Balkan News Agency

By Mladen Dragojlovic

Director of the RS Banking Agency and the Director of the RS Investment and Development Bank of this entity, Slavica Injac and Snezana Vujnić, are arrested on Thursday in the SIPA operation called “Avalanche” and taken to questioning in connection with the crime in Bobar bank.

This Bank, one of the biggest in RS, experienced difficulties after death of its owner, Gavrilo Bobar, one of high ranked officials in ruling Alliance of independent social democrats (SNSD). On the end of last year, RS Banking Agency and its director, Savica Injac, withdrawn the license for work and sent the Bank in liquidation.

The operation, performed by SIPA officers at Thursday early in the morning, was conducted after months of investigation. Officers in  Banja Luka, Bijeljina and Zvornik arrested a total of ten persons. Injac and Vujnic were arrested at their workplaces and search of the rooms of these two institutions in Banja Luka lasted from early morning until afternoon. The action started immediately after the workers entered their offices.

From the state Prosecution office it was announced that the arrested persons are suspected that, as a group of persons interconnected and organized in criminal association, acting in mutual agreement, have committed a series of irregularities in the operations of Bobar Bank, primarily in granting loans in value of millions of Euro, as well as for illegal bank guarantees for various jobs. They know for violations of procedures and guarantees provided by the Law on the banks. They caused damage to banking sector and enabled acquiring of illegal income in the amount of about 123 million BAM (61,5 million Euro).

“The perpetrators are approved loans and bank guarantees without respect for legal procedures, to enterprises and economic entities of different owners who are connected or are co-owners of Bobar Bank. They knew that the collection of assets will not be realized, that they used illegal guarantees, and that damage which they made with this will cause the bankruptcy of the bank and severe earthquakes in the banking sector”, the said BiH Prosecution office in announcement.

The prosecution added that these illicit activities inflicted large damage to the credit rating of the country and led to the fact that the IMF actively involve its experts in the analysis of developments in the banking sector.

“In addition, these activities threatened deposits of various companies and individuals, who were deposited in Bobar bank, including funds of cities, municipalities, enterprises, medical institutes, pension funds, electricity companies and persons, and inflicted multi-million damages to the state Agency for Deposit Insurance”, said the State Prosecution.

Opposition leaders welcomed the operation hoping that SIPA will perform the operation to the end where RS Minister of finances, Zoran Tegeltija actually stays.

“We consider him responsible for work of these two RS institutions and it will be the good news that he is arrested as a head of these illegal operations, said leader of the opposition party Prosperous Srpska”, Adam Sukalo told the media.

On the other hand, the leader of ruling SNSD and president of RS, Milorad Dodik, told the media that the operation of SIPA is an illegal “manifestation of power”. He emphasized that SIPA and state Prosecution office are not “legal institutions” established by the will of international community in order to exert pressure on RS.

“This is what was done. SIPA’s raid of RS institutions is nothing else but the demonstration of this ugliness and a proof to everyone that we do not need at all a BiH with institutions like these”, said Dodik.