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PETRITSCH ON HERCEGOVACKA BANKA, RETURNS TO POSAVINA

MOSTAR, Nov 7 (Hina) - The international community's High Representative in Bosnia has said those responsible for criminal activities in Mostar's Hercegovacka Banka will be brought to justice. It will soon be proved that looting and money-laundering occurred in Hercegovacka Banka, Wolfgang Petritsch told a local television station on Tuesday. The bank's management, some politicians and stockholders ripped off the Bosnian Croat people, Petritsch said. He explained the Mostar-based bank had issued 88 million marks in loans, 80 percent of the bank's deposit, whereas the usual practice in doing so is only 15 percent of the bank deposit. The amount has not been returned and the High Representative called on stockholders to return it so as to save the bank. He also promised that small savers would be given up to 5,000 marks in indemnity. Last April, international community officials, with the help of NATO's Stabilisat
MOSTAR, Nov 7 (Hina) - The international community's High Representative in Bosnia has said those responsible for criminal activities in Mostar's Hercegovacka Banka will be brought to justice. It will soon be proved that looting and money-laundering occurred in Hercegovacka Banka, Wolfgang Petritsch told a local television station on Tuesday. The bank's management, some politicians and stockholders ripped off the Bosnian Croat people, Petritsch said. He explained the Mostar-based bank had issued 88 million marks in loans, 80 percent of the bank's deposit, whereas the usual practice in doing so is only 15 percent of the bank deposit. The amount has not been returned and the High Representative called on stockholders to return it so as to save the bank. He also promised that small savers would be given up to 5,000 marks in indemnity. Last April, international community officials, with the help of NATO's Stabilisation Force peacekeepers, seized more than one million documents from the bank on suspicion of illegal business. Moreover, Petritsch has accused the Bosnian Serb entity's government of being the most responsible for the slow return of Bosnian Croats to pre-war homes in the north of the country. He has also accused the Croatian Democratic Union (HDZ) party of years of discouragement of Bosnian Croats from returning to pre-war homes in the northern Bosanska Posavina area and of urging them to settle in Herzegovina instead. Petritsch also maintains that returns to Bosanska Posavina in the wake of the death of Croatian President Franjo Tudjman have been paid little attention to, and that during Tudjman's rule the issue was suppressed. (hina) ha

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