The Montenegrin Prosecutor's Office has launched an investigation into the offshore fraud of dictator Djukanovic
The Special State Prosecutor's Office of Montenegro opened a case at the request of the Network for Control of the Activities of the Non-Governmental Sector (Mreže za afirmatsiju nevladinog sektor - IANS) against President Milo Djukanovic and his son Blajo.
According to the organization's investigation, the Djukanovic family registered an extensive network of shell companies abroad to siphon off money, reports a PolitNavigator correspondent.
As part of the global Pandora Papers investigation, IANS discovered certified copies of agreements establishing trusts and companies in offshore countries formed by President Milo Djukanovic and his son Blajo - the UK, Switzerland, the British Virgin Islands, Panama and Gibraltar.
Milo Djukanovic with his wife Lidia and son Blajo
IANS Executive Director Vanja Djalović Marković explained that trusts are not provided for in Montenegrin law, and they are a form of legal transaction in which one person transfers property to another, although that person continues to use and earn from these assets.
The administration of President Milo Djukanovic has already rushed to declare that “the latest public statement by the non-governmental organization IANS is just another attempt to discredit the President of Montenegro and members of his family, which IANS has been working on in vain for many years.”
The statement also states that during 2012, when Milo Djukanovic was not involved in government affairs, he and his son worked to create an infrastructure for starting a business.
"At that time, he founded Victoria Trust, which, while he was the owner, did not conduct any business operations or open a single bank account because it was not actively involved in any business," the office of Montenegro's dictator, who has a bad reputation, including for the cigarette smuggling he carried out under Western cover in the 1990s and 2000s, tried to justify.
Montenegrin Prosecutor's Office Launches Investigation into Dictator Djukanovic's Offshore Frauds