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IBM Bank Montenegro Bankruptcy

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Podgorica, 04 January 2019

Thirty-Eight Session of the CBCG Council Held

The Council of the Central Bank of Montenegro held its thirty-eight session on 3 and 4 January 2019, chaired by the Governor, Radoje Žugić.

The Council considered reports on financial and operating conditions of Atlas banka AD Podgorica and Invest banka Montenegro AD Podgorica, in which the Central Bank of Montenegro introduced interim administration on 7 December 2018.

In addition to reports on financial and operating conditions, interim administrators also submitted an action plan containing proposals for resolving the situation in Atlas banka AD Podgorica and Invest banka Montenegro AD Podgorica.

Considering the situation in Atlas banka AD Podgorica and taking into account the risk profile of this bank after the determined amount of losses and the prepared balance sheet of the bank, the interim administrator determined that the further continuation of the bank's operations would be possible with its recapitalization and proposed to conduct the recapitalization procedure in accordance with Article 126a of the Banking Law.

The interim administrator of Invest banka Montenegro AD Podgorica determined that the financial position of this bank is negative, that the solvency ratio of the bank dropped below one quarter of the prescribed level and that the liabilities of this bank are higher than its assets, and proposed revocation of the license.

In accordance with the abovementioned, on 4 January 2019, in accordance with the provisions of Article 129 paragraph 1 items 7 and 9 of the Banking Law, the Central Bank of Montenegro issued a decision on revoking the license for the operation of Invest bank Montenegro AD Podgorica and the decision to open bankruptcy proceedings against this bank in accordance with the provisions of Article 2 paragraph 1 of the Law on Bank Bankruptcy and Liquidation.

Banks, budget and step to break
Governor Radoje Zugic finally began to mix in his job. Two banks - Atlas and IBM - are under temporary administration
22 December 2018, 09:01 h
The truth can no longer be hidden: the banking system is collapsing, investments are diminishing, the budget is shrinking, public debt has reached the ceiling, and Montenegro seems to enter the stage when it will increasingly be managed by foreign creditors, primarily the IMF and the World Bank. This is the result of the decennial excessive consumption, borrowing, corruption and criminal activities of the top government, their bankers and business partners.

Let's start from the banks: Governor Radoje Zugic finally started to mix in his business. Two banks - Atlas and IBM - are under temporary administration. Atlas Bank is suspected of alleged money laundering, and three more banks are investigating the same issues, which have an even greater share in the Montenegrin market.

The money laundering problem examined by the Special Prosecution is just the tip of the hill. At least three banks in the Montenegrin market, one of the largest in the country, have problems with risk insurance for years, and could, if not repaired, further downgrade the banking system.

The European Commission, the IMF and the World Bank have long sought to establish control over these three banks. But it was in vain. In one Zugic, he must not step up, let alone let the international financial institutions control. He allowed to hide both the World Bank and the public audit reports, which is against the law. He watched peacefully the banks deal with dubious jobs, which made them more insolvent.

In parallel with the introduction of discipline in the banking sector, the European Commission with foreign lenders is requested from Montenegro to balance the budget, slash administration, curb excessive spending and borrowing. In return, international institutions have provided guarantees in the past and encouraged foreign lenders to give hundreds of millions of euros to our country on favorable terms, in order to maintain the budget and finally to begin reforms.

Instead of controlling the banking sector and reducing public spending, it is scattered all over the world, as the government has been operating for decades, spending a lot of money, investing from nothing to anywhere, corrupting and buying voters. Only up to a week ago, a continuation of borrowing for the construction of the highway, the second block of Trmoelektrane, was announced, state aid was distributed to failed companies ... And instead of reducing the administration by five percent at the central and ten percent at the municipal level, according to the opposition, new 3,000 employees.

The finance minister finally ended this week, defending the budget before the deputies, admitting that it could not continue on the old, that it would not enter into new debts due to the continuation of the highway, that expenditures would have to crash - drastically. If the lenders, the World Bank and the IMF did not send an ultimatum, they would still go by the old one.

So the directive, and not the enlightenment, made Žugić to seduce the order in the bank with which he received a doctorate, or perhaps he dealt with business, as now publicly witnessed by insiders from Atlas . And how much will it cost the state?

Recall: Atlas Bank has more than 70,000 clients, whose deposits were introduced into the custody of temporary measures. According to Mile Kasalica estimates, EUR 118 million belongs to citizens whose deposits up to 50,000 euros are guaranteed by the state. In addition to their money, there are tens of millions of euros of Montenegrin companies, from large ones such as Airports , to small and medium-sized ones. There is also the money of several municipalities and other important institutions. Who will cover all this, will Zugic answer what he has so long aroused?

In the coming months, other truths could also be seen, because foreign creditors will not be satisfied with the introduction of forced administration only in these two banks. Thousands of people in the administration could be left without jobs, companies without state aid.

There are huge debts of the state. In addition, according to valid verdicts certified in Strasbourg, the state should pay more than one hundred million euros only to the workers of Radoj Dakic and the owner of KIPS. And where are the millions of guarantees.

There is still little left to the DPS to break up - Aerodromes , EPCG, the Morača canyon, maybe Tara ... But even if it's all sold out, it does not mean much. Things have gone so far, and the European Commission, the IMF and the World Bank are losing patience.

The opposition should be wiser than before. Instead of interfering with each other, he would have to ask the authorities the full truth about the situation in the country. Much faster than the DPS had expected, it could have begun to dissipate and confront the devastating balance of this uncontrolled power.

Possible lawsuits against the CBCG and CG state
Atlas Group considers it necessary for the current manager to help the Atlas bank's regular functioning. If the current practice of the interim administration continues, they warn against possible complaints of bank clients against the CBCG and the State of Montenegro for compensation of damages.

[ Discovered by: JBČ. ]

18. 12. 2018.11:29 >> 11:022


Possible lawsuits against the CBCG and CG state
Atlas Group considers it necessary for the current manager to help the Atlas bank's regular functioning. If the current practice of the interim administration continues, they warn against possible complaints of bank clients against the CBCG and the State of Montenegro for compensation of damages.

Photo: Printscreen / TVCG
The Atlas Group invites Radyo Zugic, the governor of the Central Bank of Montenegro, to enable the smooth operation of Atlas Bank and IBM Bank, as they say. They are urging him to, as he states, apply the law and "act as it did to other banks, without selective access".

Atlas Group points out that since the introduction of the provisional administration of CBCG, the functioning of Atlas and IBM Bank has been disabled because, as they said, their depositors can not use their funds.

"Banks do not do domestic and international payment transactions, payment cards of citizens do not work, as well as e-commerce." Is the temporary administration of Zugic directed to the healing of banks, as he says or destroying these two banks? "Their destabilization would be destabilized the entire banking and financial system, "the statement said.

Temporary administration measures are considered unreasonable because, as they said, they are particularly damaging to a large number of depositors, savers, especially pensioners, students and employees who receive money through Atlas and IBM Bank.

"Two banks have more than 100,000 deposit accounts of different types, and their customers are not able to fully use the services of banks," the Atlas Group said.

The central bank, as they add, must first of all protect depositors, savers and users of bank services, as well as the banking and financial system as a whole. The way the provisional administration was introduced and to which it is currently being implemented, they estimate, none of the goals is achievable, so they ask if there is another objective of the CBM Governor.

"We underline that Atlas bank has more than 100 million euros in liquid assets in its accounts, which is more than enough for the smooth functioning of the bank," they said.

The bank's shareholders from the Atlas Group are, as they say, repeatedly to the governor, before the introduction of the interim administration, as well as at the last meeting on November 30, 2018. give very high quality solutions.

"These proposals were rejected, without explanation, if they were considered at all. After that, the method of implementing the interim administration, which should enable the continuation of operations, is in direct contradiction with that goal," the statement said.

Atlas Group considers it necessary to, in order to protect the interests of Atlas Bank assets, trust depositors and relations with large foreign clients who had confidence in holding funds in Montenegrin banks, to enable the management to be present in the advisory function and assist the temporary administrator in the regular and quality functioning of banks.

"If the current practice of the interim administration continues, we warn of the severe consequences, due to possible complaints by the bank's clients against the CBCG and the State of Montenegro for compensation of damages. If the interim administration does not unblock the client's accounts in the shortest period of time and does not enable the management to help establish the regular functioning of the bank , the situation will force withdrawal of moves that will be very painful, "they said.

The Atlas Group invites clients to submit all complaints and problems that the Atlas bank has experienced during the interim administration through Facebook's "Support to Atlas Group" and join the "Green Scarf" campaign, which is organized as a form of protest against the blocking of the account and the ban on payment clients of two banks.

Knežević's national warrant issued: IBM transferred EUR 17 million to accounts of affiliated companies
12/01/2019 07:59
Source: Winning

Duško Knežević

Atlas Group president Dusko Knezevic and four of his associates are charged with transferring 17 million euros from the account of related companies within the Atlas group to Invest Serbia Montenegro IBM, learns Pobjeda from several sources.

The money was transferred from the bank to Global Carbon. Global Carbon is a company founded by Knezevic's Invest Bank Montenegro and this company is now active.

<<< Katnić requested the announcement of the mandate for Knežević <<<

The Central Bank introduced provisional measures at IBM and Atlas Bank in December last year and appointed provisional administrators Tanja Terić and Milan Remiković. However, on January 4, this year, bankruptcy was introduced in IBM, and Milan S. Rakocevic was appointed as bankruptcy administrator. It was estimated that Atlas bank can survive if it is recapitalized.

Four of Knezevic's associates were heard before the Special Prosecutor Lidija Vukcevic at the end of December, and a detention period of 72 hours was fixed. However, the Chamber of the High Court did not accept the Prosecution's motion to order 30 days of detention and they were released after the hearing to defend themselves with liberty.

According to Pobjeda's findings, the Prosecution's evidence shows one of the suspects who explained that the disputed jobs were being conducted.

A national warrant has been issued for Dusko Knezevic because he is inaccessible to the Special State Prosecutor's Office. The warrant was issued because the police, on the order of the Prosecutor's Office, found that Knezevic was not in the addresses registered as his place of residence.

After the police finds out that he is not in Montenegro, he will inform the Special Prosecution that issued orders for conducting an investigation against Knezevic and his associates.

The next step of the Prosecution is the request to the High Court to approve the issuance of an international warrant. If an order to issue a warrant on the request is issued, the Police Directorate informs the Ministry of Justice and requests their consent. Upon receipt of the approval of the Interpol office, he shall issue a warrant.

Knezevic avoided detention because he is outside Montenegro. He is being advertised daily via Instagram, arguing that the process against him is politically motivated and that "Chief Special Prosecutor Milivoje Katnić executes the orders of the President of the State, Milo Đukanović". Also, Knezevic twice rang through the daily Vijesti, claiming that he had been financed by the DPS for years. In his second address to the Vijesti, Knezevic said that he would come to Montenegro and "would like to answer any question if the Special Prosecution ceases to maltreat his employees and withdrew senseless accusations against them, terminated the unreasonable behavior of the interim administration in Atlas bank and revoked the bankruptcy decision in IBM. " Dusko Knezevic did not provide any evidence for his claims in any media addressing.

The time limits for the measure at Atlas Bank were introduced because Knezevic did not return twelve and a million euros that the bank paid Kaspia to court on the basis of a court dispute, and because of the guarantee given to Knezevic. In addition, Knežević purchased the bank's loans from the real estate that the bank took into the fiduciary. However, loans were not repaid, and assets were not sold.

On the In4s portal last night a clip was published on which the president of Atlas Group Dusko Knezevic gives an envelope to the former mayor of Podgorica, Slavoljub Stijepovic. Knezevic in a brief conversation, which is barely understandable, tells Stjepovic that he has 47,500 in one envelope and in the other 50,000, without naming the name of the currency.

<<< Stijepović on the footage of Knežević: This is a deliberately underlined <<<

Slavoljub Stijepovic announced in a statement stating that it is clear from the contents of the conversation that this is a conversion of money that the public was familiar with earlier and that Dusko Knezevic duly took his commission.

Democrats and URA seek answers from SDT

Momo Koprivica and Milos Konatar of the Democrat and Civil Movement of the URA called on the authorities to interrupt with silence and selective application of the law in the case of Dusko Knezevic.

Firm in Cyprus seized license for debt clients

The Cypriot Securities Commission (CySEC) seized on February 15, 2017, the license to operate an investment firm Atlas Capital Financial Services (ACFX) owned by Dusko Knezevic, because it did not return a few million dollars to its clients. The company traded on FOREX for the account of clients.

PROSECUTOR'S OFFICE OF MONTENEGRO WAS DURING DEFENSE OF DUSK KNEZEVIC: Owner of Atlas Group suspects that he has misappropriated more than half a billion euros!
MONTENEGRO 28.12.2018. 11: 36hThe Special Prosecutor's Office ordered the arrest of Atlas Group owners Duško Knežević, within which they operate Atlas and Invest Bank Montenegro, where the Central Bank of Montenegro recently imposed provisional administration on the suspicion that more than half a billion euros has been misappropriated.

Knezevic is not in Montenegro, the Montenegrin media writes, referring to his knowledge that the two Knezevic's close associates from the bank, Djordje Djurdjic and Marko Nikolic, were arrested on the order of the prosecution.

Two days ago, an official of Invest Bank of Montenegro, Biljana Bašović, was arrested.

A special police department has filed for the illegal acquisition of more than half a billion euros of criminal charges against 174 natural and legal persons, and among the suspects there are six former and current employees of Atlas bank.

So far it has been suspected that it has been unlawfully procured some 550,000,000 euros, but there are indications that this amount is higher by 300,000 euros.

The investigation also raised the question whether the Central Bank of Montenegro had the authority to react earlier and prevent the commission of this criminal offense, and will be responsible in their orders.

After the opening of the investigation, CBCG imposed forced administration into Atlas and IBM, while Atlas Group president Dusko Knezevic accused the prosecution and the Central Bank of trying to destroy its banks.

Duško Knežević: I challenge the political earthquake
V.Kadić | December 30, 2018. 12:35> 16:18 . Comments: 0
Duško Knežević, President of Atlas Group on the arrest of his associates and the announcement that his arrest was ordered

Photo: Tanjug
Atlas Group Chairman Duško Knežević announced on the arrest of his associates, as well as his announcement of the allegation of the State Prosecutor's Office that he was "at the head of an organized criminal group", said he was ready for every verdict, he has no criticism.

When I finish my duties abroad I will answer any question of SDT and any of the prosecutors. I'm asking for the first release of my co-workers and ceasing to terrorize employees at Atlas Bank and IBM. This is done by those whose apparent aim is to remove Dusko Knežević from Montenegro, harm the business system with more than a thousand employees and take over the property and valuable assets of Atlas Bank, such as Ecommerce. I also ask that all I have to say is public and that SDT fully publishes all that I will tell him. Since there is no talk of illegal money laundering, it is obvious that the persecution of Duško Knežević and the Atlas Group is motivated by political and other intentions to try to take over the work of Atlas Group. Some political circles and criminal clans are now working to instrumentalize the Special State Prosecutor - Knežević said, pointing out that the finding of the Money Laundering Administration as well as, as alleged, the Prosecution itself, who, after investigating some individual cases and companies, found that there was no reason to raise any indictments.

Read more: Duško Knežević: He wants to ban my bank!

"It is known which banks in Montenegro charge money and have protection regime," Knežević said. "That is why this persecution has a political connotation, and therefore I doubt it is the result of clinging to criminal clans. That is why I have asked SDT to publish the contents of our conversation that we did last year on his request. As he said to me, he was talking about an official conversation. If he does not want to publish it, then I will have to do it myself, even though it can cause a political earthquake.

Knežević once again warned Atlas Bank's provisional administration to unblock more than 100,000 client accounts.

Read more: The Prosecution ordered the arrest of Duško Knežević

- They electively disconnected the accounts of those with political ties, and those who need this money for basic needs can not afford their money. Because of the damage done to dozens of foreign companies operating through the Atlas Bank because their assets are blocked and their business is blocked, Montenegro will certainly pay a high price.Part of the claims, and part of the removal of foreign business partners and the message that there is no legal certainty in Montenegro. If the bank does not return to normal, we invite clients to protest in front of the Central Bank and Government, Knežević taught.


I do not mind my coins. I sold two banks, one insurance house and many real estates in Serbia and decided to concentrate their jobs in this region in Montenegro. I have never been to Serbia for what happened to me in Montenegro. It just happened to me in Moscow when our Central Bank of Russia deprived us of a license to work for the introduction of sanctions by Montenegro, said Knežević.

Businessman Dusko Knezevic is suspected of illegally gaining millions

Source: N1
Podgorica. (archive)
The special state prosecutor's office suspects the president of the Atlas Group, Dusko Knezevic, that he formed a criminal group that has illegally acquired millions of dollars for years.

The investigative judge ordered custody of Brankica Bašović, Đorđe Đurđić and Marko Nikolic and initiated an investigation against Knežević and several suspects from his company.

The Special State Prosecutor's Office monitors the operations of Atlas and Invest Bank for months for suspected money laundering.

A special police department has filed for the illegal acquisition of more than half a billion euros of criminal charges against 174 natural and legal persons, and among the suspects are six former and current employees of Atlas bank, Vijesti writes.

Brankica Bašović has been one of the most trusted people of Knežević for years, and is being contacted in business affairs by the controversial firm Fiesta Investments LTD registered in Mauritius, which in 2012 was accused by US investigators as participants in corruption during the privatization of Telekom Crne Gore.

DVERTISED THE MOST GREATEST MONTENEGOR AFTER THE SKANDALISM RECORD: I gave the former Podgorica Mayor $ 100,000 in his DPS house in agreement with Mile Djukanovic! (VIDEO)
MONTENEGRO 12.01.2019. 19: 46h
The president of "Atlas Group" Dusko Knezevic has been issued a national warrant because he is inaccessible to the Special State Prosecutor's Office.

Knezevic, whose work is being investigated by the Special Prosecutor's Office for Organized Crime, suspected of financial fraud, including washing more than half a billion euros through "Atlas Bank", publicly accused President Milo Djukanovic, who is also the leader of the DPS, for attempting to take over his jobs and property. He has been one of the biggest donors of DPS in the past 25 years, as he has said several times earlier.

On Thursday, he told the Podgorica News that one of the world's financial investigation firms and the Atlas Group's law firm from London came to the conclusion that Milo Djukanovic and clans close to the first family are behind the "Atlas case".

"After this attack on the Atlas Group business system, it is obvious that behind it is the first family, that is, parts of the government that are in conjunction with criminal clans," said Knezevic.

The Podgorican portal IN4s published an audio-video on Friday evening that reveals that Atlas Group president Dusko Knezevic personally handed over $ 100,000 to the former mayor of Podgorica, Slavoljub Stijepovic, for the needs of DPS, Milo Djukanovic.

The president of Atlas Group claims that this is a money intended for the Democratic Party of Socialists. Former Mayor of Podgorica Slavoljub Stijepovic did not respond to the calls from Vijesti. Knezevic surrenders to Slavoljub Stijepovic an envelope in which is allegedly about 100,000 euros intended for financing the Democratic Party of Socialists. Everything is happening in Knezevic's house, where the footage produced was also delivered to the News.

The whole of Montenegro stood in one envelope
It seems that the team at exactly 30 years since the arrival of Milo Djukanovic in Montenegro began to crown.

Đuro Radosavović
In the envelope there were about $ 100,000, or slightly less due to a commission of 2.5 percent, probably reduced by the conversion of the dollar into euros or some similar mutter Illustration

These days, the whole of Montenegro stood in one envelope. It was about $ 100,000, or slightly less due to a commission of 2.5 percent, probably reduced by the conversion of dollars into euros or some similar mutations. So much is the former mayor of Podgorica, Slavoljub Migo Stijepovic, the main actor of the video that shook Montenegro, stuck in the envelope, and into the pocket of the jacket.

This is to be seen on the footage published by Dusko Knezevic, a big and long-time banker of Montenegro, who has been perceiving him publicly for years, as a man in charge of all vintages of Montenegro. One of the closest people of Milo Djukanovic. Knezevic uploaded a video on his Instagram profile and set up a wick.

It seems that the team was exactly 30 years old (in the words: thirty years) since Milo Djukanovic came to power. Milo was first removed a few years ago by the undisputed Svetozar Marovic. He is now somewhere in Belgrade, sinking into depression as he takes millions out of his account and sells his property.

Dusko Knezevic came to the court. The owner has a lot of things, but his first Atlas Bank came to his tooth. Accused of large embezzlement and laundering of a huge amount of money, an indictment was filed in Podgorica for Dusko. It is clear to everyone that the Special State Prosecutor and the Chief State Prosecutor function on the principle of the button, that is, when Milo presses, they are advertised.

They pressed the Dusk. But Dusko Knezevic decided to clutter himself. Currently, (allegedly) in London, he is acting out of the chain, wild, but primarily on social networks. An Instagram profile made by Dusko Knezevic was enough to shake the whole of Montenegro. Everyone is eagerly waiting for the next Dusko to set up and whom he will resign from politicians, businessmen and other old paties.

The charge of the charge, various old photographs with Milo, ministers, businessmen, company and sports club directors, lawyers, prosecutors are coming up. And in these photographs, everyone is mostly disappointed, happy, full as a boat, smiling. They drink whiskey, smokes tompuses.

Silent kisses
Dusko sends messages via Instagram, "Do not play with me" is told for days. He gives media interviews that are not close to the authorities, claims he has everything to say, and the authorities keep silent. They waited for him to kiss Dusko, when he did not lie down, Dusko launched a video and made trouble throughout Montenegro.

The video clearly indicates that the former mayor of Podgorica received about 100,000 euros before the elections from Dusko, it seems, the mayor approaches him, he does not have time to sit down because he goes to Zeta at a pre-election rally. As the last Montenegrin silverware and experimental rabbit, Migo ex-mayor takes the envelope, then loves Duško Knežević, who is now processing, and endures the envelope in his pocket. A thousand can fit in a jacket pocket.

The same one who took the envelope pushed into the inner jacket of his jacket, he was known for a time in a videoclip in which he presided over the Parliament of Montenegro raising his hand and smelling his armpit, to see if the suit was ripe for changing. Such was the mayor of Podgorica, who presided over the parliament for some time, such a struggle before the elections in his pocket envelope with a hundred thousand.

He sees Montenegro and begins to believe in what has been talked about for years. He sees and reveals the trick of the great magician Milo, as it has been in power for 30 years. So, on television, the patriot who gives everything to Montenegro, and out of the scene, hundreds of envelopes worth hundreds of thousands of dollars, or euros, suffer from the pockets of individuals, it is all the same for those two and a half percent.

They would not have even argued today about ideology, but this case is also an ordinary quarrel about the bag. That is why Dusko Knezevic became "Instagram hajduk", an outlaw. So much for his honesty. Now they are waiting for new videos, the move is the power, will find a way to silence and calm down the Dusk who began to smash them Instagram footage.

Interestingly, pro-government media are silent, trying to amortize the damage by claiming that they can not see what's in the envelope, although figures are heard on the record. Everything and talk about clicks, in one envelope can not cost them 100,000. No way.

Tremble in front of Mile
But this is not just about money, it is so interesting this much. At the very end of the compromising footage, Migo ex-mayor and a loyal party soldier said after receiving the envelope for going to the pre-election rally in Zeta (a settlement in Podgorica) and how Milo will be there, he says: "I always have a threshold in front of him when I speak. "

How much this sentence speaks in favor of the truth that Montenegro is in the hands of one man, capo di tutti capi . How much does the thesis about Montenegrins fall as brave and brilliant orators, because it is evident that everyone is a mistake from Milo. They have a bang before them when they need to speak.

Now everyone has a buzz because they wonder who's next on the wallpaper and how crazy Dusko is going to be, whether Instagram's fame will be brought to him, will he announce some more who received the envelopes, and surely there are still plenty of them.

Everything Migo, now known as "Migo First Envelope", had in his defense to say is an attempt at demagogy and unknowing wash, he claims to be a deliberate venture. What is dull and touching, and what inexperienced Migo says in his defense is: "I am amazed unpleasant when I saw that a school boy secretly shot me."

So infuriated that every normal affliction is suffering.

PUKLA TIKVA How Duško Knežević and Milo Djukanovic of the best friends and associates became ZAKLETI NEPRIATELJI
Blic 13.01.2019. 21:05
Comments: 5

Knezevic Milo foto InstagramPHOTO: INSTAGRAM
A scandal broke out in Montenegro when a clip from 2017 was published in which the President of the Atlas Group, Dusko Knezevic, for whom the warrant was issued, gives an envelope with the money to the former mayor of Podgorica Slavoljub Stijepovic from the Democratic Party of Socialists (DPS) for the needs of the election campaign. The ruling party reacted with a statement that they believed that "the institutions of the system would do their job in an independent, professional and impartial way", while on the other side Knezevic claims that Prime Minister Milo Djukanovic and his clans want to seize his property.

Knezevic said earlier that he was one of the biggest donors of the DPS in the last 25 years, and he is also a great advocate of NATO integration and Montenegrin independence, and he is also referred to as the former longtime great friend of Djukanovic.


According to the president of the Atlas Group, he sent the former mayor of Podgorica 200,000 dollars to finance the DPS campaign, but that he asked him to convert them into euros in order to give them to activists. Knezevic claims that Stijepovic's money was sent in agreement with DPS President Milo Djukanovic. Chief Special Prosecutor Milivoje Katnić never launched an investigation on that occasion.

Stijepovic claims that this is a conversion of money that the public was previously aware of and that Knezevic duly took his commission.

- It's not true that it was just a conversion of $ 100,000. By agreement with Mile Djukanovic, I sent Stijepovic 200 thousand dollars through the driver, and he returned them after two days claiming that he can not use the dollar to work on the ground in the campaign. He asked me to convert them into euros so that he could share them with his activists - said Knezevic "Vijestima".

He claims that after that he gave money from twice - in his house 97,500 euros, "and the rest to 200,000 dollars also exchanged in euros was taken by the driver later to Stijepovic's office in the headquarters of the Capital City."

Knezevic stated that he was not clear why "his schoolmate Migo did not speak the truth".

- Let me tell you how much I donated money to the DPS, Capital City and hand it over to him personally during his mayor's mandate in Podgorica. Let him say what I told him before his trip with Djukanovic to Latin America in December. I warned him that, if they intended to ruin my system, they would react brutally and take into account because the Special State Prosecutor, without any basis, harassed my people and me. If Migo (the nickname of the mayor of Podgorica) will not publish the details, then I will have to. He was too safe at that moment, he was not as frightened as when my drivers were arrested and when the affair had taken place. I guess his new position in Djukanovic's cabinet gave him strength, "Knezevic told Stijepovic, who is now part of the Montenegrin prime minister's cabinet.

A special state prosecution charges Knezevic with embezzlement of 1.9 million euros, and unofficially marks him the head of a criminal group who allegedly washed over half a billion euros. A warrant for his arrest was issued, and the Special Prosecutor's Office requested the publication of a warrant, while the media announced that an international warrant had been issued for Knezevic. He first denied that he had acted unlawfully, but allegedly the chief special prosecutor Milivoje Katnić threatened and tried to force him to link him with the Democratic Front and the "coup" case.


Atlas Group is the largest financial group in Montenegro comprised of dozens of companies with far-reaching business interests, including banks and financial companies in Serbia, Russia, Great Britain and Cyprus. Dusko Knezevic is the founder and president of the Managing Board of the Altlas Group Corporation, who, according to his acknowledgment, said that he financed DPS. In order to justify his relationship with the top of the Montenegrin authorities, Knezevic sets up photos with influential people in Montenegro on the profiles at Instagram in recent weeks, as well as with Djukanovic from the time they were close. The Neretko prime minister and his policy on social networks compares to the notorious bosom of famous films.

- Politics is not my field of interest, except in the creation of an environment for business. Many major decisions of the Government of Montenegro, starting from the introduction of the German brand in 1999, are my work in one way or another. Through work and generations I am a friend of several influential people in the ruling party. After this attack on the Atlas Group business system, it is obvious that behind it is the first family, that is, parts of the government that are in conjunction with criminal clans - said Knezevic for "Vijesti" and stated that Djukanovic had stopped communicating with him "after the Central Bank entered two of my banks. "

How close they were between Knezevic and Djukanovic, is the fact that in Serbia in 2005 he sold his Atlas bank to Piraeus Bank, which then approved a 1.5 million-euro loan to Kapital invest company Milo Djukanovic. According to the media, Djukanovic became a legal shareholder of the First Bank's Brothers.

But Knezevic's misfortunes with the authorities have not dated since recently, a few years ago began the "fall" of one of the most important businessmen of Montenegro. As the Montenegrin " Monitor " wrote in 2014, in April this year it became clear because of the writing of the regime media that something was not in the relations between Knezevic and Djukanovic.

Then it was said that Knezevic ordered the branch of the state airline company Montenegro Airlines to leave the premises of Atlas Bank in Moscow. As noted, the reason for this is that Knezevic was allegedly unhappy that his Aqua Monta water is no longer used on national carrier airplanes. Knezevic denied the claims that this was the reason, but the consequences were still there: Montenegro Airlines left the premises in Moscow, and Knezevic's water was no longer served on the planes of the Montenegrin airline.

Biznisman had problems with his Atlas group in 2011 when the planned privatization of the Electrode Factory in Plužine was prevented. After announcing the then prime minister Igor Lukšić with the saying that it was "a finger in the government," Knežević withdrew and sold the shares to the state fund shortly.

FROM THE BIGGEST BUSINESS TO POTERNICA Who is Dusko Knezevic, the Montenegrin tycoon and yesterday's great friend Milo Djukanovic
ŠOKANTAN SNIMAK Former mayor of Podgorica receives $ 100,000 from Duško Knežević (VIDEO)
Also, Knezevic bought the Military Medical Center Meljine from the Montenegrin government several years ago, and pointed out that he would invest 300 million euros in it. However, not everything was going according to the plan, so the Government's Economic Affairs Commission rejected the request of the Atlas Group for the modification of the Agreement on the purchase and sale of the health-tourist center in Meljine and the extension of the deadline for investments. In April 2016, the government gave its consent to terminate the contract, following the initiative of the Herceg Novi Municipal Assembly, since only € 3 million was invested in the € 119 million project. In October last year, the Appellate Court Chamber seized controlling rights for the owner because of the risk of property alienation and the destruction of documentation.

Dusko Knezevic is one of the main actors in korupcionaškoj privatization of Telekom CG which occurred in 2005, together with her sister Milo Djukanovic, Ana Kolarevic. The affair Telekom launched when the US Commission on Securities (SEC) claimed that during the sale of these state-owned Hungarian Telekom, 2005, was corruption. SEC found that the Magyar Telekom bribed several Montenegrin officials, individuals close to them and members of the Management Board of the company, with a total of 7.35 million euros.

Over the past year and the value of assets of Atlas group in the country and abroad, decreased significantly, and the planned projects and companies are gradually crumbling.

When the Knezevic campaign in the Montenegrin media began in 2014, the interlocutor of the Monitor said that it was certain that Knezevic was in the distribution of the prey, from the corner of Djukanovic's clicks, over time became a grease. As an example, he gave many unfinished projects, as when certain European embassies in Podgorica wanted to place their representative offices in the Atlas Capital Center building, but Knezevic insisted on the huge rent prices, which resulted in their abandonment.

Although it seemed that the regime would let its "lucrative dealer down the water," this did not happen until now. Many of the conversations around Knezevic were compared with the case of former President Svetozar Marovic, when Djukanovic counted himself with his buddhist clan.

While Djukanovic and Knezevic's roads crossed the owner of the Atlas Center, it was better to go, the Monitor writes, but it seems that it is no longer at the mercy of the master.
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he Prosecutor's Office of Montenegro examines the Atlas affair
SOURCE: Tanjug

Monday, January 14, 2019 | 16:20

The State Prosecutor's Office of Montenegro announced today that, if it is proven that there is a criminal offense in the Atlas affair, someone will respond to it, and that "in accordance with the Constitution and the law", it will take all necessary measures in order to determine everything necessary facts.

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Duško Knežević
"The State Prosecution, in this, as in all other cases, will exclusively apply a law that is equal to everyone. The established factual state will be publicly informed about the public," the Prosecution announced, according to the CdM.

(VIDEO) From the best friends to the sworn enemies: How did the goblet break out between Milo and Dusko Knezevic?

The prosecution reacted so after the president of the Atlas Group, Dusko Knezevic, delivered a video to some media outlets showing the former mayor of Podgorica and the official of the Democratic Party of Socialists DPS Slavoljub Stijepovic, handing over the envelopes, claiming that there were 97,500 euros in them.
Stijepovic reacted immediately, stating that it was a classic subject and invited state authorities to question Knezevic's allegations.

The Atlas affair was initiated by Knezevic after the Central Bank imposed provisional measures in IBM and Atlas bank.

Knezevic and four of his associates are charged with transferring 17 million euros from the accounts of Invest banka Montenegro IBM to the accounts of related companies within the Atlas Group, and he continually reiterates that the process against him is politically motivated and that "Chief Special Prosecutor Milivoje Katnic executes orders President of the State of Milo Djukanovic ".

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Central Bank: IBM in bankruptcy, Atlas recapitalize
04/01/2019 14:19 Source: CdM
Atlas Banka Montenegro
Further continuation of Atlas Bank's business is possible with recapitalization, while the financial state of "Invest Montenegro Montenegro" is negative, and its license for work and open bankruptcy procedure is seized, the Governor of the Central Bank of Montenegro, Chair Radoje Zugic , said at a session of the Council of the Central Bank of Montenegro .

Yesterday, the Council reviewed reports on the financial condition and conditions of operations of Atlas and Invest Bank Montenegro, in which the Central Bank introduced provisional administrations on December 7, and with reports on the financial condition and operating conditions, the temporary managers also submitted an activity plan containing proposals for resolving the situation in these banks.

"Having examined the situation in Atlas banka and taking into account the risk profile of this bank after the determined amount of losses and the prepared balance sheet of the bank, the temporary manager has determined that the further continuation of the bank's operations could be possible with its recapitalization and proposed to conduct the recapitalization procedure," they state in CBCG.

As add, the temporary manager of Invest Bank Montenegro AD Podgorica determined that the financial position of this bank is negative, that the solvency ratio of the bank dropped below one quarter of the prescribed level and that the liabilities of this bank are greater than its assets, and proposed the revocation of the license for work.

"In accordance with the above, on January 4, in accordance with the Law on Banks, the Council issued a decision on the withdrawal of the license for the work of" Invest banka Montenegro "and the decision to open bankruptcy proceedings against this bank in accordance with the provisions of the Law on Bankruptcy and Liquidation of Banks" , concluded at the Central Bank.

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NVESTMENT IN THE MONTENEGRO BANKS INVESTMENT: The Fund will not all return the money
I. STOJADINOVIĆ | 09. January 2019. 13:40 | Comments: 1
Deposit from the bank of Duško Knežević should begin soon. I can not get banks, auditors, insurance companies ...

photo D.Dozet
HOW, according to the decision of the Central Bank of Montenegro in Invest Montenegro banka (IBM), owned by Duško Knežević, last week was a protected bankruptcy, depositors' deposits deposited with the bank went under the jurisdiction of the Deposit Protection Fund.

The payment of money that legal and natural persons had at that bank should begin no later than 15 days from the day the bank entered bankruptcy. M owever, as saošteno from the Fund, to receive guaranteed deposit not all. Namely, as stated in the Fund, the right to deposit has no insurance companies, state organs and organizations, mandatory health, retirement and social insurance funds, but not voluntary pension funds, investment funds, banks and other credit institutions.

The payment of the deposit is not expected even by legal persons, who directly or indirectly participate in 5 or more percent of the capital or voting rights in that bank.

READ MORE - Duško Knežević: He wants to ban my bank!

The list does not end here either. The law stipulates that the money deposited in the bankruptcy bank will not be paid even to those who have audited the financial statements of the bank for a period of three years before the opening of the bankruptcy, to the holders of securities. In addition to the above mentioned, the right to receive deposits has no persons for whom the CBCG has determined that they have contributed to the deterioration of the bank's financial condition and which have as their account holders high interest rates or financial benefits in obtaining the loan.

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'Dvorski' conflict shook Montenegro
2 hours ago

The Central Bank of Montenegro introduced forced management into Knezevic's two banks
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    Whether Montenegrin businessman Dusko Knezevic through his companies is pouring money through money and business machinations has damaged the state or the most powerful state circles trying to overturn Knezevic's property through the judiciary - questions that will dominate the political and public scene of Montenegro in the coming months. Investigations into the business of Knezevic companies, one of the most powerful businessmen in Montenegro, correspond to accusations against the ruling party and the president of the state, Milo Djukanovic.

    The State Prosecutor's Office of Montenegro announced that it will take all necessary measures and actions in order to establish all the necessary facts in the case known to the public as the "Atlas" affair.

    "If it is established that any criminal offense prosecuted ex officio is responsible for this," the prosecution said in a statement issued after the almost complete political public sent requests to the Montenegrin prosecutor's office to investigate and verify the allegations of the businessman Dusko Knezevic, who claimed in the past days that he financed the ruling Democratic Party of Socialists during the election process with 200,000 euros, broadcast a video where he surrendered to the former mayor of Podgorica, Slavoljub Stijepovic, an envelope of allegedly almost 100,000 euros.

    Knezevic v. Djukanovic and 'kidnapping'

    This is just one of the aspects of the latest affair that started when Dusko Knezevic, the owner of a huge number of real estate in Montenegro, a medical center, a private university, two banks, a television station, a number of companies operating outside Montenegro ... against the Dusko Knezevic ... The Special Prosecutor opened the investigation the alleged embezzlement, money laundering, the establishment of fictitious companies, and the damage caused by the state budget. And almost simultaneously, the Central Bank of Montenegro introduced forced management into Knezevic's two banks (Atlas Bank and IBM).

    In the meantime, several Knezevic associates were arrested, and according to local media reports, the Special State Prosecution has issued a national arrest warrant for Knezevic. The Atlas Group's owner, Dusko Knezevic, responded from an unknown location to the public service about his business, from unknown locations through social networks and a statement given to Montenegrin media in which he claimed "to be mounted a process initiated by the Montenegrin state summit aimed at taking over his business the system, and behind everything stands the President of Montenegro, Milo Djukanovic. "

    The investigation of the money from the video is also requested by the actor, the former mayor of Podgorica, and the current Secretary General of the President of Montenegro Slavoljub Stijepovic (in the foreground)
    Knezevic, as he claims, financed the ruling Democratic Party of Socialists during the electoral process is the subject of the interest of almost all political parties in Montenegro that require the competent prosecutor to open an investigation. The investigation of the money from the video is also required by the actor himself, the former mayor of Podgorica, and the current Secretary General of the President of Montenegro Slavoljub Stijepovic.

    In his statements, Stijepovic did not explain what kind of money he was making, what was the origin of that money, and whether and to whom he subsequently surrendered that money, which he had converted to Knezevic. In the official statement of the Democratic Party of Socialists, Knezevic's accusations are called "unworthy behavior by an adult man", but also believe that in the "Atlas case" the institutions of the system will do their job in an independent, professional and impartial manner.

    Over Montenegrin Atlas Bank plowed more than half a billion euros?

    The opposition Democratic Front, Democratic Montenegro and the Civic Movement of the URA, and the extra-parliamentary Rights of Montenegro in political groups that submitted to the competent prosecutor's office separate criminal charges in which they demand an investigation into the latest affair. Knezevic's allegations of opposition are evidence that the Democratic Party of Socialists illegally financed their election campaigns. Dritan Abazović from the Citizens Movement URA stated that this is the biggest affair in the last two decades, over which he must not cross.

    "All the elections in Montenegro, after publishing a recording in which 97,500 euros are taken in an envelope, can be considered irregular in Montenegro. This was a commonly known fact before, but now it has received another seal," Abazovic commented.

    Abazovic: The affair that can not be crossed
    For one of the banks of Dusko Knezevic, Invest Bank Montenegro, the state declared bankruptcy. It was announced that the Deposit Protection Fund will begin paying the guaranteed deposits to the clients of that bank, which has 2,800 with a total of 22 million euros.

    According to the available data, the business trip of Duško Knežević begins in the mid-1990s and is intensified when it is bought in Montenegro: the Adriatic Fair in Budva, the Atlas Mont Bank, and then thirty companies from the Atlas Group, whose scope is in the areas of banking, finance, real estate, education, construction, tourism, health and media.

    The prosecution investigates a powerful Atlas group

    In early 2014, the Central Bank of the Russian Federation banned the Russian branch of Atlas Bank, allegedly due to violations of laws and procedures. The accusations were denied from Atlas, and the support of Knezevic was given by the Association of Russian Banks. At the beginning of next year, the Moscow Court of Appeal annulled the decision of the Central Bank to revoke the license.

    Knezevic was a minority partner within the project Atlas Capital Center, which is majority-owned by companies from the United Arab Emirates.

    The Montenegrin government caused a serious blow when at the end of 2015 it demanded the termination of the contract for the privatization of the former military hospital in Meljine near Herceg Novi due to non-compliance with the contract, but this request has not been implemented so far. In 2010 Knezevic became a member of the Global Clinton Initiative. Knezevic subsequently organized a gathering within this Initiative, with its founder and former US President Bill Clinton taking part.

    Exit from the transient car: Montenegrin tycoon Knezevic on the edge

    The other thing was that Duško Knežević was the owner of Atlas Television, where bankruptcy was declared, and the result was that the employees were left without a salary and the state without tax.


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It's only one bank.
I'm worrying more about what the central bank can do for non-residents who have a bank account in MNE. But frankly, this is a small country. They welcome Turkish and Arabs investors because they need foreign money. I remember reading an article which explained that some Chinese had invested in Atlas Banka, maybe they will rescue it to gain control.
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