Money laundering probe into Montenegro's pro-Russian Democratic Front extended

By bne IntelliNews August 31, 2017

Montenegro’s special prosecution has gathered new evidence and is extending a money laundering investigation that targets one of the leaders of the pro-Russian opposition Democratic Front (DF), Portalanalitika.me reported.

In June, the parliament lifted the immunity of Nebojsa Medojevic, who has been under investigation for money laundering. Prosecutors say the DF leader was a member of illegal organisation and was in charge of organising a group of people who distributed illegally gained money to other individuals who then donated the sums to the DF.

Now the special prosecution decided to include in the investigation four more individuals, including local businessman Momir Nikolic, two more DF members - Dejan Vujisic and Zeljko Scepanovic, who is also a member of Medojevic’s extended family - and the currency dealer Gordan Konatar, Portalanalitika.me reported, quoting unofficial information from daily Pobjeda.

The special prosecution also suspects that more people who participated in the DF’s election campaign last year are involved in the money laundering case and will soon reveal their names.

In July, the prosecution claimed it had gathered enough evidence against Medojevic after arresting three other members of the alleged criminal group who have already testified. 

The special prosecution has been investigating the DF over the source of funding for its campaign since May. According to local politicians, the party has received substantial sums from Russia.

The DF is believed to have received funds from offshore bank accounts, which were split into small amounts and wired to local individuals and firms related to the DF. The money was then officially donated to the party for its campaign.

Other party leaders have been indicted for plotting a coup aiming to seize power and cause unrest following the October 16 general election. While the DF’s members claim this is an attack against them by the ruling Democratic Party of Socialists (DPS), the prosecution says it has enough proof to charge the party’s leaders. 

Related Articles

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

Dismiss