Svetozar Marovic Can Now Build on the Coast

By , 14 May 2018, 14:28 PM Politics
Svetozar Marovic Svetozar Marovic Savo Prelevic

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The Supreme Court in Podgorica unblocked nearly 50,000 squares of land from Lucica to Budva, owned by four companies associated with the convicted head of the criminal group from Budva, Svetozar Marovic, and his former adviser Olivera Ilincic.

The Supreme Court in Podgorica unblocked nearly 50,000 squares of land from Lucica to Budva, owned by four companies associated with the convicted head of the criminal group from Budva, Svetozar Marovic, and his former adviser Olivera Ilincic.

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Olivera Ilinčić PHOTO: Private archive

The Special State Prosecutor's Office did not initiate an investigation against Ilincic, so the Judge from the Supreme court abolished the temporary measure of the ban on alienation and burdens on the property of the affiliated company's property investments, Adriatic investments, Fifth avenue investment limited and Good location properties.

"The Law on the withdrawal of real property acquired by criminal activities stipulates that the temporary measure imposed in the investigation shall be terminated if the investigation does not commence within six months from the date of the decision on the determination of the temporary security measure. Therefore, since the investigation has not commenced within that period by the decision of the judge of the supreme court in Podgorica, the temporary measures of the ban on alienation and the burden of immovable property owned by legal persons from the United Kingdom and Podgorica were abolished," says Aida Muzurovic, the Public Relations Adviser.

Upon the order of the Special Prosecutor's Office, on January 26, 2016, the Supreme Court temporarily confiscated all land complexes along the coast owned by these companies. As part of SDT's "Property" survey, it was determined that the organized criminal group headed by a former statesman and DPS official deceived about 20 families from Budva for several million euros. By purchasing land complexes at the most attractive positions during the sale-purchase from 2007 to 2009, through these companies, whose owners are still hiding behind the off-shore companies from exotic islands, numerous Budva residents remained without their savings, which was used for fraud as a collateral to pay the debts from the linked companies," informally represented Ilincic.

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Bečići PHOTO: Shutterstock


The initial prosecution checks, however, did not lead to the opening of the investigation and the possible charge. By the decision of the Supreme Court, the blockage from the entire property by the company from Budva Property investments, which owns a plot of 9,432 square meters in Lucice, was removed. The founders of the firm, judging by the Central Register of Business Entities, were hiding behind Blunt International from the British Virgin Islands, and the executive director is Katarina Radisevic, one of the suspects.


Despite all this, the land is still under the blockage of the bank, the state of Montenegro and the Municipality of Budva due to a million in debt. In January, the state again blocked the complex in Lucice for a tax debt of 469,631 euro. The Budva Municipality entered a record of tax debt, which unsuccessfully attempts to pay taxes of over 400,000 euro for eight years now. Prior to the state and local administration, the mortgage was registered by Hipo Alpe Adria Bank for five million euro ten years ago. A court dispute against Property Investments is also led by the First Bank to collect debts of 2.200.000 euro. 

The temporary measure was also abolished on the 9,205 square meters of land in Lucice - owned by the Adriatic investment company, founded by the company of Seychelles Standard consulting corporation. The Executive Director is Marko Karadzic. The parcel is located next to the property of Property Investment, and that the companies are related is clear because the same mortgage HAAB is also registered on this parcel, due to million euro loan. And that property was blocked by the state due to a tax debt of 287,000 euro, and the Municipality also claimed a hundred thousand euro of tax debt.


The Supreme Court un-blocked the property by the company Good Location from Budva, which owns a 35,000-square-meter plot of land at Velje ploce. The same company founded the firm from Florida, and the Executive Director is Tamara Radisevic. The media had earlier linked the company with Ilincic, because the court had a million-dollars-worth court dispute with local partners, who purchased a complex of 55,000 squares from the old residents. After the split and court settlement, the company had 35,000 squares. The ban was also removed from two attractive plots on Becici Beach, owned by Fifth Avenue, established by a company from Great Britain. These are plots of one thousand squares between Saint Thomas and the hotel "Splendid," or around 2,500 square meters near the hotel "Naftagas." The company also unblocked one-story business building of 700 square meters in the center of St. Stefan which used to be restaurant "Golubinj."

It was clear a month ago that the attractive plots were unblocked from the burden, after the representatives of these companies “appeared” in Budva, who offered many investors to build tourist complexes on this land. Particularly interesting sites are located on Becici beach, on the seashore, because the town’s urban plan foresees the construction of buildings, and mainly residential and hotel facilities. Beici beach is currently the largest construction site, and its hinterland has become the most attractive part around which a real "war" is being led by the construction companies, which would secure the trust of the owners, offering them favorable conditions for the construction on their property.

Text by Jelena Jovanovic and Vuk Lajovic, on May 13th, 2018, read more at Vijesti

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