Federal Agency for Management of Confiscated Property: Another Expensive Vehicle Under Management

The Federal Agency for Management of Confiscated Property yesterday, September 21, 2017, received another motor vehicle for management based on a decision by the Municipal Court in Zenica, thus continuing the implementation of tasks defined by the Law on Confiscation of Illegally Acquired Property through Criminal Offenses in the Federation of BiH. This is already the fourth expensive luxury vehicle managed by this agency.

According to court decisions, the Agency successfully manages three business entities with a total share capital value of KM 6,171,000, which operate regularly and employ around 40 workers.

- To date, the Agency has received KM 256,000 in cash from the courts for management. The temporarily confiscated money is deposited into a special purpose account of the Federal Agency for Management of Confiscated Property until a final court decision, while permanently confiscated funds have been paid into the Budget of the Federation of BiH.

Regarding the illicit gains to be confiscated based on received verdicts, the Agency, in accordance with legal provisions, has forwarded four verdicts to the Federal Prosecutor's Office for competent action and initiation of enforcement proceedings. The total illicit gains to be paid into the Budget of the Federation of BiH after the enforcement procedure is completed amount to KM 55,000.

The Agency temporarily manages two expensive luxury real estate properties, which it leases based on court decisions, and the total monthly rent from these leases amounts to KM 13,955.83. These amounts are paid into the Agency's special purpose account until a final court decision.

In addition to managing business entities, cash, and real estate, the Agency also manages shares and various movable assets, the sale of which is in progress.

The Agency is currently acting on 18 court decisions, managing assets worth several million, and continues to expand cooperation with courts and prosecutor's offices to maximize the use of legal possibilities for confiscating illegally acquired property, it was announced from the agency - the statement reads.