POLICE PRESS CRIMINAL CHARGES AGAINST FORMER PRESIDENT OF KOMERCIJALNA BANKA MANAGEMENT

ZAGREB, April 29 (Hina) - Zagreb police on Wednesday pressed criminal charges against a former president of the Komercijalna Banka d.d. management, Josip Soic, for abuse of his office, police reported on Thursday. A police investigation showed that Soic had approved short-term loans to privately-owned companies so that they could buy Komercijalna Banka shares amounting to about US$5.5 million. The companies used the money to purchase 65 per cent of shares of the Komercijalna Banka d.d. Criminal charges were also pressed against the owners of the above- mentioned companies. Following the sale of shares, Soic wrote off part of credit commitments worth US$2 million. Other credit commitments were taken over by companies owned by one of the four above-mentioned persons, but without share transfer. The police charge Soic with having concluding several deals on behalf of the bank, in his capacity as the president of the bank's management, although he was not the majority owner. The deals were detrimental to the bank's operation. On Wednesday, April 28, the police escorted the four persons (only their initials were published) to the Zagreb County Court investigation centre. Josip Soic was not apprehended because he is receiving medical treatment. The police did not want to say where Soic is being treated nor whether he is in Croatia. (hina) jn rml