The first trial in Serbia pursuant to law on liability of legal entities for criminal offences has rendered a guilty verdict
The law on liability of legal persons for criminal offences came into force on 4 November 2008. Nearly six years thereafter the first verdict was rendered on the 11 June 2014, by the special department of the Higher Court in Belgrade (Special Department for Organized Crime). Pursuant to the verdict, a local company has been found guilty and convicted for money laundering and has been fined with RSD1.5m (approximately €13,000 or £10,000) and ordered to return all gains realised via money laundering, amounting to RSD21,053,137.
Along with the said company, 11 individuals have been convicted as well, and found to be operating as a criminal group, for extortion. The founder of the company and the leader of the criminal group was designated as the first defendant as the responsible person in the legal entity at the same time. The founder of the convicted company was paying the proceeds from the extortion into the company’s account as a founder’s loan, thereby acquiring gain for the company and committing money laundering.
This criminal group has been found responsible for numerous extortions, blackmails, robberies, money laundering and other criminal activities, through which it gained money that later on was converted into the capital of the company (the enumerated crimes were committed both within the territory of Republic of Serbia and abroad)…
Click on the link below to read the rest of the JPM Jankovic Popovic Mitic briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from JPM Jankovic Popovic Mitic
Briefings from JPM Jankovic Popovic Mitic
Burden of restitution of confiscated property is being transferred from the state to the investors.
After number of consultation rounds, the Draft Law on Investments was passed by the Serbian Parliament on 23 October.