Balkans: November 7, 2001

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A follow-up on the illicit use of Bosnian banks. RFE reported that further investigation of the Hercegovacka Banka in Mostar suggests that allegations that the bank was used as a slush fund by Croat ultra-nationalists may well be accurate. The bank gave nearly $10 million dollars (with no requirement for repayment) to individuals who were closely involved with attempts to set up a Croat separatist republic inside Bosnia. Effectively, the bank was used to subsidize (fund, actually) a Croat militia force and separatist political operations.

 

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