All the money used so far to cover debt of Bobar bank have come from the state. According to the latest media information, after sudden death of Gavrilo Bobar, some 300 million KM was sucked out of this bank and transferred by secret channels out of the country to destinations with little financial control, where money laundering is deemed possible.
There is no doubt that some powerful figure has attempted a grand money laundering. And that could be done only with help from powerful international finance brokers. However, in strictly controlled international financial flows, such enormous finance transaction cannot pass without notice. Therefore, even if the government of RS dared to make an attempt to divert the money, Money Val, the agency for investigation of money laundering and financing terrorism, would have noticed. The moment somebody tried to suck out the capital from BH banks and transfer it to different accounts, the system of European finance control would be notified.
Did somebody try to rob the bank of the money owned by citizens and public companies and then return it to legal state flow of funds?
After Patria published the information that the debt of Bobar bank and Bank of Srpska will amount to 140 million KM, there came other public warnings about potential illegitimate behavior and therefore big robbery which started unfolding in front of the eyes of bankers and economic experts in BiH.
The state hit by financial manipulation
Director of Agency for Deposit Insurance Josip Nevjestic said to Patria:
Total value of insured deposits in Bobar bank equaled 86,829.6 million KM. By 23 January 2016, 98.14% has been paid out, which equals 85.251,2 million KM.
We asked him how much funding for rehabilitation was provided by the Agency for Deposit Insurance BiH:
All the funds were provided by the Agency, confirmed Nevjestic.
Even then, some serious illegitimacies could have been noticed. It became clear that the system tried to protect itself and its murky works. The Article 12.2.3. of the Law on Agency for Deposit Insurance stipulates that proportional payments from available funding in bank are the first option. The same article says:
After temporary commissioner pays out all deposits, in full or in proportion to the funds available in the bank, every deficit of funds in payments of insured deposits is compensated by Fund, says the Law on Agency for Deposit Insurance.
According to the Article 11, 'resources of the Fund also include funds realized by collection by subrogation from liquidation and bankruptcy estate'.
Subrogation is the right for an insurer to pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim paid to the insured for the loss.
The money was meant to be laundered
So the Fund, in some future status, would have to be the first settled creditor from the sale of Bobar bank. That is how it is supposed to be, unless some big political game or fraud prevails. BH banks should not overlook this big attempt of money laundering. They have been paying insurance premiums to the Fund for years. Why should they cover the debts of the banks in RS that have been politically and without any scruple brought to their knees?
Somebody has emptied the accounts of Bobar bank and in a criminal way. Somebody then planned to return the money (after laundering) as clean in the legal financial flows of BiH.
Nobody believes that Bobar bank accounts remain empty. All the money that has been so far paid out to private deponents of Bobar bank, was drawn from the account of the state Fund of Agency for Deposit Insurance. That mustn't have happened. Bobar bank had to have on its accounts solid funds, as was stated in the media, except for when the story went around about 10 million KM that mysteriously disappeared from its account. The amount was 3 times higher and RS media now admit that.
If this is going to be the end of stealing money from BiH, it depends on SIPA investigation of state financial institutions, and of European Union, who were able to watch and observe movement of capital in these enormous criminal transactions.
Following the arrest of 9 persons, including Director of Agency for Banking of RS, one ought to follow what happens next. What is the ultimate goal of this incredible game? A finance expert said he could hardly believe that somebody attempted a fraud of this volume with such insane ideas.
Is this country at the doorstep of the worst possible robbery one could imagine?
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