The Court of BiH Froze Čaušević’s Assets

Tuesday April 23rd, 2013

The Court of Bosnia and Herzegovina has thrown out the complaint filed by an attorney of the former director of Indirect Taxation Authority. The attorney claims that his client earned enough money to buy properties worth over a million KM.

kemal causevic

Kemal Čaušević in one of the apartments that the court has frozen. (Photo: CIN)

By The Center for Investigative Reporting

The Court of Bosnia and Herzegovina (BiH) froze 11 properties owned by Kemal Čaušević, the former director of Indirect Taxation Authority (UIO). In its ruling the Court of BiH stated that there are several connected investigations against Čaušević for abuse of office and authority.

The Center for Investigative Reporting (CIN) published at the end of last week that the former UIO CEO bought five apartments, four offices and 20,000 square meters of land in downtown Sarajevo and other prime time locations over seven years. According to the bills of sale the combined value of properties amounts to one million and 80,000 KM.

CIN reporters also found that Čaušević’s income since 2004 has not come even close to cover the cost of the investments.

The Court of BiH froze five apartments and one office in Stakleni Grad mall in downtown Sarajevo; three plots of land in Poljine and an office in the Grbavica neighborhood.

The Court of BiH turned down the Prosecutor’s petition to stop Čaušević from using two other offices at Stakleni Grad.

The Court of BiH said that this measure will last until the end of the criminal proceedings against Čaušević.

The BiH Prosecutor’s Office also stated in its petition that the investigation found a discrepancy between Čaušević’s income and the properties he acquired between 2006 and 2012. Accordint to the prosecutors, Čaušević paid 900,100 KM for ten properties at the time when their market value was 1.5 milliona KM. Prosecutors said that Čaušević earned around 695.000 KM between 2005 and 2010 which was not enough to buy these properties, especially controlling for the living costs.

Čaušević bought the majority of his properties during 2011 when he was sacked from the post of UIO’s CEO. That year he bought four properties that he paid 395,200 KM, while he paid for 280,000 KM for two offices in u 2012. Prosecutors say that his salaries amounted to 55,000 KM and income from renting additional 60,800 KM in 2011.

Čaušević’s attorney Asim Crnalić wrote in a complaint that his client has held managerial positions since 1986 and has earned a salary that matched the ones made by the best paid CEO’s in BIH every year, including the wartime period.

Crnalić furnished the Court of BiH with records purporting to prove that Čaušević earned 1.76 million KM during this time through his work; interest on deposits; board membership; various contracts including renting agreements, gifts for the birth of a child, inheritance father the death of his father and a financial donation from his in-laws. The Court of BiH turned the complaint as unfounded.

Published on April 23, 2013.

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