Cyprus money laundering trial in Belgrade in September

The trial for a money laundering operation which moved millions of dollars from the former Yugoslavia to Cyprus will begin in September, the B52 radio station reported in Belgrade last week.

Attorney Predrag Milovancevic told B52 Danas that the trial will begin on September 5 in the Belgrade District Court.

The Special Prosecutor’s Office for Organized Crime issued indictments in March for the case of illegal transfer of funds to Cyprus in the 1990’s, during the Milosevic regime.

The indictment includes former director of the Yugoslav customs administration Mihalj Kertes, former Serbian Deputy Prime Minister Jovan Zebic, the late Serbian and Yugoslav president Slobodan Milosevic and former Yugoslav Deputy Prime Minister Nikola Sainovic.

The cases against Milosevic and Zebic have been closed since both are now dead.

The trial against Sainovic will be separated from the rest because he has also been indicted by the Hague Tribunal.

The indictment states that the former state officials participated in financial activity that incurred damages to the state close to 120 mln German marks. The money was used to finance public companies and the Socialist Party of Serbia.