The Basic Public Prosecutor’s Office for the Prosecution of Organized Crime and Corruption has submitted an indictment to the Basic Criminal Court in Skopje against three people, each of whom is charged with the criminal offense of “Causing the Bankruptcy of a Bank.” Also, according to the Public Prosecutor’s Office announcement, an indictment has been filed against another person for the criminal offense of “Negligent Work in Service.”
The indictment states that the first defendant, in the capacity of Chairman of the Board of Directors and member of the Credit Board, the second defendant as Chairman of the Credit Board, and the third defendant as Chairman of the Risk Management Committee and member of the Board of Directors, during the period from 2013 until the second half of 2019, acted contrary to the provisions of the Law on Banks and the bank’s internal acts.
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According to the Prosecutor’s Office, they approved loans for credible legal entities and persons connected to them, without the appropriate analyses and without the necessary collateral. The indictment also states that they concealed the real financial condition and risks, while reporting inaccurate data to the National Bank. Through these actions, they significantly worsened the financial situation of Eurostandard Bank AD Skopje.
It further emphasizes that through these actions they contributed to the bank’s bankruptcy, as well as damage to creditors in the amount of 1,662,417,664 denars.
Meanwhile, according to the indictment, the fourth defendant, in the role of Chairman of the Supervisory Board of Eurostandard Bank AD Skopje, in the period from 2013 to 2019, exercised his powers negligently and failed to carry out proper supervision, thereby acting contrary to the obligations set out in the Banking Law.
The Prosecutor’s Office announcement adds that, through this approach, he enabled the approval of problematic loans, the assumption of excessive credit risks, the inaccurate presentation of the bank’s financial condition, as well as the failure to implement legal and internal lending procedures. In this way, he contributed to the creation of clear insolvency, the reduction of the bank’s own funds, and its bankruptcy by force of law.
