DETAILS OF THE INVESTIGATION: How 300 million KM of Bobar Bank ended up in accounts in Russia and Switzerland

More than 300 million KM of Bobar Bank ended up in the accounts of the Swiss Falcon Private Bank and the Russian Euroaxis Bank, controlled by individuals from Bosnia and Herzegovina, investigators from the Prosecutor's Office of Bosnia and Herzegovina and SIPA, who are working to shed light on the robbery of Bobar Bank, have revealed, according to a source close to the investigation for the news agency Patria.

After the interim management of Bobar Bank announced that the bank was no longer liquid due to over-indebtedness, its operating license was revoked on December 23, 2014, and the bank has been in liquidation ever since. 

On July 28, 2015, the Criminal Police Administration of the Ministry of Internal Affairs of Republika Srpska submitted a report to the Prosecutor's Office of Bosnia and Herzegovina against four individuals on suspicion of involvement in abuses at Bobar Bank amounting to nearly 10 million KM. This is the first indictment for abuses at Bobar Bank, and indictments against other individuals are yet to follow.
Media previously revealed that the highest political leadership in RS, led by President Milorad Dodik, is behind the complete robbery of Bobar Bank's funds, and he could very soon find himself in the dock if he loses power!  

Falcone Private Bank is a Swiss private bank that manages assets for private clients and wealthy families. The bank is headquartered in Zurich. Its representative offices are located in Dubai, Abu Dhabi, Geneva, London...

Euroaxis Bank is a mixed-ownership Russian bank, with majority owners coming from Serbia. Serbia previously deposited part of its foreign exchange reserves with this bank, but Serbia's reserves were withdrawn when scandals began to emerge at this bank, writes the Patria agency.

Scheme of the Bobar Bank Robbery

Bobar Bank established foreign currency deposits with several foreign banks – in Serbia, Slovenia, Montenegro, as well as banks in several other countries. After that, several companies from Bosnia and Herzegovina, specifically from the BiH entity Republika Srpska, took out millions in loans from the same banks, and the mentioned deposits of Bobar Bank served as collateral for the repayment of these loans. 

The money from the loans that BiH companies received from these banks was automatically transferred to the accounts of Falcone Private Bank in Switzerland and Euroaxis Bank in Russia. After the BiH companies withdrew the money from the foreign banks, they stopped repaying the loans, and the banks settled their claims from Bobar Bank's deposits.

The investigation by the Prosecutor's Office and SIPA includes the companies: Elvaco from Bijeljina, Holding Drinatrans from Zvornik, Univerzal from Bijeljina, Progres from Bijeljina, Grafokomerc from Trebinje, Atlas Bank from Podgorica, Taubinger Elektrik from Foča, Sempet Mont from Zvornik, Bobar Group, Bobar Radio, Bobar Osiguranje and Bobar Autosemberija from Bijeljina, writes Patria.