Real estate fraud

Kermas Ulaganja firm defrauded of HRK 43 million

22.04.2011 u 23:46

Bionic
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Investigating financial wrongdoing in the purchase and sale of real estate for the Pula-based firm Kermas Ulaganja, owned by Danko Koncar, the police have established that Vinka Cetinski, Boris Sorgo and Zeljan Hrvatin have defrauded the firm of an additional 8 million kuna, the Istria Police County Department said on Friday.

From 2007 to 2009, contrary to the firm's interests, the three suspects were buying real estate at higher prices than those that prevailed in the area at the time and stated even higher amounts in the contracts. The difference of HRK 8 million between the stated and actual price they kept for themselves.

Vinka Cetinski, Boris Sorgo, his son Marin, and the lawyer Zeljan Hrvatin have been placed in 30-day investigative custody in Pula for fear that they might influence the witnesses.

It is estimated that the suspects unlawfully gained about HRK 43 million (EUR 5.8 million) in all.