After examining files of the Hypo Alpe Adria Bank, Austrian investigators have decided to report retired Croatian general Vladimir Zagorec to prosecutors in Klagenfurt for conspiracy to commit crime in connection with his real-estate transactions, the Vienna-based daily Der Standard said on Tuesday as quoted by the Austrian news agency APA.
Zagorec and former members of the bank's managing board Wolfgang Kulterer and Guenter Striedinger are among those under investigation.
Investigators are examining the bank's allocation of EUR 5.6 million in loans to Zagorec for real-estate transactions in Croatia in 2004. Zagorec had failed to secure collateral for the loans.
Zagorec has in the meantime begun selling his properties in Vienna. He is currently in prison in Croatia and his business operations are run by his wife.
According to media reports, Zagorec received about EUR 40 million in loans from the Hypo bank on account of three of his properties in Vienna.
Austrian Socialist Party official Guenther Kraeuter issued a statement on Tuesday requesting from the Austrian People's Party a detailed report on the progress of the judicial authorities in the criminal prosecution of perpetrators of economic crimes in the Hypo case. Kraeuter requested a status report on this nationalised bank.
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