Major Arrests in Serbia Linked to Alleged Fraud at State Utility Company
Fifteen individuals, including a former EPS director, face multiple charges including money laundering and abuse of office.
Law enforcement in Serbia has arrested Milorad Grčić, the former acting director of the public utility company Elektroprivreda Srbije (EPS), along with 14 other individuals.
The arrests were made based on suspicions of various criminal activities that allegedly resulted in financial losses to EPS, amounting to 122,867,300 Serbian dinars.
Among the arrested are a coordinator from the IKT sector of EPS, identified as I. M. (38), and several officials from related private companies.
These include T.A. (49), the director of 'Tim Systems', Aaleksandar Papić (37), the factual owner of the same company, and N.V. (52), who is also a responsible person at 'Tim Systems'.
Other notable arrests include M.B. (48), the director of 'IntellSec', and M.M. (48), the director of 'HRC Horeca', among others.
The charged individuals face serious allegations including abuse of official position, money laundering, bribery, and influence peddling.
The operation was carried out under the direction of the prosecutor's office, which also mandated searches at 16 locations associated with the suspects.
During these searches, authorities reported discovering large sums of cash in Serbian dinars, euros, Swiss francs, and US dollars.
Additionally, items confiscated included luxury watches, jewelry, gold ducats, as well as weapons and ammunition, including a katana sword and binoculars.
The suspects have been detained for up to 48 hours and are expected to be brought before the Higher Public Prosecutor’s Office in Belgrade with a formal criminal complaint.
The arrests were made based on suspicions of various criminal activities that allegedly resulted in financial losses to EPS, amounting to 122,867,300 Serbian dinars.
Among the arrested are a coordinator from the IKT sector of EPS, identified as I. M. (38), and several officials from related private companies.
These include T.A. (49), the director of 'Tim Systems', Aaleksandar Papić (37), the factual owner of the same company, and N.V. (52), who is also a responsible person at 'Tim Systems'.
Other notable arrests include M.B. (48), the director of 'IntellSec', and M.M. (48), the director of 'HRC Horeca', among others.
The charged individuals face serious allegations including abuse of official position, money laundering, bribery, and influence peddling.
The operation was carried out under the direction of the prosecutor's office, which also mandated searches at 16 locations associated with the suspects.
During these searches, authorities reported discovering large sums of cash in Serbian dinars, euros, Swiss francs, and US dollars.
Additionally, items confiscated included luxury watches, jewelry, gold ducats, as well as weapons and ammunition, including a katana sword and binoculars.
The suspects have been detained for up to 48 hours and are expected to be brought before the Higher Public Prosecutor’s Office in Belgrade with a formal criminal complaint.
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