SARAJEVO, Bosnia-Herzegovina (AP) — Bosnia's prosecution office says it has brought charges against a former head of the country's tax authority over accepting close to 1 million euros ($1.1 million) in bribes to defraud the state of customs revenue.
The prosecution office said in a statement Friday that it charged Kemal Causevic, who led the country's indirect taxation authority from 2004 to 2011, and two men who owned several trade companies, with malfeasance, bribery and money laundering related to customs fraud in the import of textiles from Turkey, China and Hungary.
The statement said that Causevic used the money to buy a dozen luxury apartments and other properties.
It did not specify the amount of customs revenue lost, but when the investigation against Causevic was launched in the summer of 2014 authorities claimed the loss amounted to close to 1 billion euros.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer