Manager accused of seizing 10 company vehicles ahead of bankruptcy, taking over c876,000 in cash

The Financial Police has filed a criminal complaint with the Basic Public Prosecutor's Office in Skopje against a company manager identified only by the initials V.R., accusing him of stripping company assets ahead of bankruptcy and concealing roughly c380,000 in taxes.

"The accused V.R., in the period from 2019 to 2020, although aware that the legal entity was unable to pay and that bankruptcy was imminent, with the intent to gain unlawful property benefit and to harm the creditors, reduced assets from which the creditors could have satisfied their claims. In doing so, he appropriated 10 vehicles valued at 69,719,484 denars, scooters valued at 545,000 denars and commercial goods valued at 4,457,322 denars, which were not recorded with proper documentation and were not found by the bankruptcy trustee, and therefore did not become part of the bankruptcy estate. As a result, creditors' claims in the total amount of 12,069,922 denars, of which 1,179,059 denars are claims of the Public Revenue Office, remained completely unpaid," the Ministry of Finance said.

According to the criminal complaint, the manager removed ten vehicles from company records; their combined book value is stated as 69,719,484 denars. The report adds scooters worth 545,000 denars and commercial stock worth 4,457,322 denars that were not documented and later could not be located by the bankruptcy trustee, so they did not enter the bankruptcy estate. Creditors' outstanding claims are listed at 12,069,922 denars, including 1,179,059 denars owed to the Public Revenue Office.

Allegations of cash withdrawals over several years

The Financial Police also accuse V.R. of further illegal activity dating back to 2011. Between 2011 and 2019 he is alleged to have withdrawn about c876,000 in cash from the company, recording those sums as "material and travel expenses" but failing to provide invoices, delivery notes, receipts or any other supporting documentation to justify them.

The complaint states that those cash amounts were appropriated for personal use. Taken together with the asset removals, the Financial Police say the actions brought unlawful financial gain to V.R. through the company and caused damage to the State Budget of North Macedonia totaling about c381,200.

The case is now in the hands of the Basic Public Prosecutor's Office in Skopje, which will decide on further charges and potential court action. The identity of the accused has been given only as V.R. in official reports.

Photo: Sloboden pechat / Metodi Zdravev