Fraud investigation

A few shareholders in Karlovacka Banka under probe for fraud

10.04.2013 u 20:25

Bionic
Reading

The Croatian prosecutorial authorities, including the Office of the State Prosecutor (DORH) and the anti-corruption investigative agency USKOK are investigating a few stakeholders in Karlovacka Banka, some of whom are former members of the bank's board, which is why the Croatian National Bank issued a press release on Wednesday to stress that the central bank is following the developments and that the available information shows that the investigation is referring to events that have no direct influence on the bank's book value or on the bank's management at the present period.

Karlovacka Banka said in its statement today that the safety of deposits in that financial institution was not at risk and announced a news conference for Thursday on the developments.

According to USKOK, suspects, who are named by the media as members of the Sola family -- mother Marija Sola and her three sons Petar, Tomislav and Sandi -- are believed to have syphoned millions of kuna from the bank and they are suspected of other murky dealings.

USKOK reported on its web site that the police pressed charges against eight persons in this case, but the Office stopped short of revealing their identity.

Sandi Sola is currently the head of the Croatian national handball federation.