Tuesday, July 17, 2007

Police brings in OHIS's CEO for questioning

The Police has brought in Jorgo Kjuka - the CEO of the Skopje-based OHIS Company - for questioning under suspicions of power abuse, Makfax Agency quotes police sources speaking under condition of anonymity.

Fraudulent dealings with OHIS's shares involving nearly 1 million euros is the subject of the questioning.

The Police raised suspicions that Kjuka, in a capacity of President of OHIS's Steering
Board, has put company's shares as a security guarantee at the Komercijalna Banka.

According to the same sources, the case is apparently related to the pharmacological facility that was opened within the OHIS premises, which was called ICN Macedonia.

At the time when the facility opened, the project was presented as a joint investment of OHIS and ICN Galenika - a daughter company of ex-Yugoslav Prime Minister Milan Panic's ICN Pharmaceuticals.

Then, in 2002, Serbia took over ICN Galenika after paying back about $50 million to the American owner for the investment.

Eurostandard Bank is also involved in the case of suspicious share deals. Jorgo Kjuka was one-time member of Eurostandard's Steering Board as well.

The CEO of the biggest chemical production facility in Macedonia, Jorgo Kjuka, has been holding the post for over a decade and a half. He is deemed as one of the most powerful CEOs in the country with solid political and business lobby connections.

The facility that once had as many as 4.000 employees, has been struggling its way out of bankruptcy for years now, and large part of the workers were unable to get proper retirement because of the company's unsettled fees to the State Pension Fund.

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