Ljumovic and Tatar acquitted

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Former managers of Crnogorska Komercijalna Banka (CKB), Milka Ljumovic, Bose Tatar, Jelica Petricevic, Dubravka Pavicevic, Velisa Radunovic and Gorica Vujisic have been acquitted of charges that they granted loans without collateral, thus costing the bank nearly €7m.

The managers were charged of granting loans without appropriate collateral from 2005 to the end of 2007 to the companies Dafin, Kataro Investments, Acapulko Podgorica, Niksen Trade, Holder Broker and Ocean Gold, thus costing OTP Bank (the owner of CKB) €6.92m.

However, these allegations have not been confirmed today by the verdict of the judge Ana Vukovic in the High Court in Podgorica.

The judge explained that there were certain shortcomings in the process loan granting, but that the accused did not commit the crimes.

In the opinion of the court, the prosecutor failed to prove the allegations that the accused had a deal to provide illicit property gain to the customers in the indictment.

According to Vukovic, it was found that they considered the contested loans as adequately secured and that in the time of their approval, there was no indication they would not be paid off.

After the verdict was announced, the attorney of Ljumovic and Tatar, Goran Rodic, said that the court made the right or the only possible legal decision in this case.

“Judge Ana Vukovic made the right decision. The law was put above the pressure. Thus she showed how an independent and impartial court should work”, Rodic said.

Gorica Vujisic’s attorney, Dusan Luksic, agreed that this was an expected decision.

Branislav Lutovac, Milka Ljumovic’s attorney, said that the court denied the allegations professionally.

Source: Cafe Del Montenegro