Biggest looting of Serbia went via off-shore firms

It is hard to prove money laundering via off-shore companies. In order to find out from which account of which off-shore company the money was transferred to the second, third or fifth account of a different off-shore company, which is how it is done when money is laundered, serious institutional investigations are necessary. We reached this conclusion in 2007 when , on the basis of 50,000 bank statements, we attempted to establish where the money, which was taken out of the country during the wars and sanctions by the sack-load, had disappeared. We managed to find that out for just one part, and to obtain official estimates about several billion euros having been siphoned out and never returned. That money belonged to the citizens of Serbia.

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