Word: privredna
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Dates: during 1987-1987
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...swindle was the power that local Communist chiefs have over regional banks. According to Yugoslav press accounts, Abdic pressured the local branch of Privredna Banka, the Bosnian central bank, into providing guarantees for a steady flow of unsecured promissory notes issued by Agrokomerc. The guarantees made it possible for Agrokomerc to sell the notes for cash to other banks. Abdic plowed the proceeds into his ambitious development plans for the company and lavish community projects for Velika Kladusa, including an Olympic-size swimming pool...
...fraud began to unravel last January when, following a warehouse fire, police discovered falsified bank orders in Agrokomerc's records. Newspapers, relying on government leaks, began running stories on the scandal in August. Earlier this month the entire governing boards of both Agrokomerc and the Privredna Banka branch were fired, while Abdic and seven others were jailed on charges of "counterrevolutionary activities." Following demands for a purge of the Bosnian hierarchy from Communist leaders in Belgrade, the capital, 50 functionaries were expelled from the republic's party organization...
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