Bečarević files criminal charges against BH-Gas officials

Almir Bečarević, former director of BH-Gas, has filed criminal charges with the Cantonal Prosecutor's Office of Sarajevo and the Office for Audit of Institutions in FBiH, all due to the creation of false BH-Gas balance sheets, writes the Patria news agency.

Namely, as stated in the charges, the management of BH-Gas falsified reports to conceal the loss incurred in 2014. This loss was annulled by reclassifications in the BH-Gas balance sheets, i.e., by recognizing income from funds intended for loan repayment used for the construction of the Kladanj-Sarajevo gas pipeline.

Charges have been filed against Mirza Sendijarević, CEO of BH-Gas, Haris Hrnjičić, executive director of BH-Gas, and members of the Supervisory Board of BH-Gas and the Audit Committee of BH-Gas.

As stated, the named individuals prepared the balance sheet and income statement for 2014, and the Supervisory Board and Audit Committee gave their approval to these reports. These balance sheets contain untrue data about the financial result for 2014, and all the named individuals were warned via emails that BH-Gas would end the 2014 business year with a negative result and that only through reclassifications in the balance sheets could a positive result be achieved.

This result was achieved by reclassifying, i.e., recognizing income (extraordinary income) from interest with exchange rate differences for loans "B" and "C" and IDA loans, which amounted to KM 7,764,806 in 2012.  

Namely, the report states that "calculated interest in the previous period and in 2012 resulted in an increase in operating costs and a decrease in profit. As with the loan principal, at the end of 2012, positive exchange rate differences were recorded on interest amounting to KM 145,768. Calculated interest with exchange rate differences for loans "B", "C", and IDA loan were recorded in the position of short-term liabilities (passive deferred revenue) and as of 31.12.2012, amounted to KM 7,764,806 (which is KM 2,146,790 less than the previous year).

The company calculated interest according to the original loan repayment plan of the creditor, according to which the interest rate was 5.79% per annum (six-month LIBOR plus half a percent) until 2011."

These funds relate to provisions for loans for the Kladanj-Sarajevo gas pipeline, which were taken over from Bosnia and Herzegovina in 1996 through loan agreements and transferred to the Federation of Bosnia and Herzegovina. Factually, BH-Gas did not pay this obligation because a Subsidiary Agreement between BiH, FBiH, BH-Gas, and Sarajevogas was never concluded.

Negotiations on this loan assumption have been ongoing since 2000, when the loan was assumed by BH-Gas from Sarajevogas through an Asset Transfer Agreement (gas pipeline). The state never, nor is there such a document, released BH-Gas from this loan, nor regulated the obligation that the state or FBiH pays.

- Only the state of Bosnia and Herzegovina can release BH-Gas from this loan. In the audit report of the Office for Audit of Institutions of FBiH, this loan was noted, and it was also noted that it is not being repaid by BH-Gas, but no recommendation was ever given to write off this loan, nor to stop reserving funds for this loan because, I repeat, the obligation exists. By its act from 2012, more precisely an unsigned email, the Federal Ministry of Finance provided an interest statement for the mentioned loan, based on which BH-Gas recognized an amount of KM 2,770,759. Since the interest statement does not exist now, nor does the loan - says Bečarević.