US Sanctions on Bosnia President and Son for Diverting State Funds to Family Estate

· President Dodik has used his official position to accumulate personal wealth through companies linked to himself and his son Igor Dodik

[ABS News Service/19.06.2024]

The Treasury Department’s Office of Foreign Assets Control is designating a network of two individuals and seven entities that provide major sources of revenue for US-designated Republika Srpska President Milorad Dodik and his family.

President Dodik has used his official position to accumulate personal wealth through companies linked to himself and his son Igor Dodik, according to Treasury. Earlier this year, the two exercised their control over senior Bosnia and Herzegovina government officials to manipulate the draft state budget so that a state-level contract could be awarded to Prointer ITSS d.o.o. Banja Luka Clan Infinity International Group – an entity in the network – outside of the competitive process.

“The United States condemns Dodik’s continued efforts to erode the institutions that have ensured peace and stability for Bosnia and Herzegovina and the region,” Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson said. “We will continue to expose the fraudulent schemes that enable Dodik and his family to exploit their own people for their personal benefit.”

President Dodik used his official position to direct RS government contracts to a network of private companies that he and his son oversee. While his son controls many of the companies in this network, he obfuscates his personal connection to the companies by relying on distinct nominal owners and directors.

Being destinated are the Infinity International Group d.o.o. Banja Luka holding company and Prointer, Kaldera Company El PGP d.o.o., Infinity Media d.o.o., K-2 Audio Services Banja Luka d.o.o. and Una World Network d.o.o.