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First Bank - First Family
Investigation

Documents relating to the First Bank First Family project.

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Zavala: Cape Corruption
First Bank loan funds were used in illegal construction on Cape Zavala and a waterpark that never happened. Both projects were linked to ruling party vice president and former President of Serbia and Montenegro Svetozar Marovic and members of his family.
Saving the Bank at Any Cost
Despite the advice of the World Bank, the government of Montenegro refused to seize the bank controlled by the family of former Prime Minister Milo Djukanovic even though a low interest loan hung in the balance. Instead, it spent two years trying to remove government funds from the ailing bank. As a result, the government had to take high interest commercial loans. Again, the state chose the interests of First Bank over the interests of the people.
Banking above the Law
An analysis of Central Bank reports shows that First Bank systematically broke a number of major laws and regulations governing the banking sector including banking law, anti-money laundering law, generally accepted accounting practices and reporting standards.
Zavala: Cape Corruption
First Bank loan funds were used in illegal construction on Cape Zavala and a waterpark that never happened. Both projects were linked to ruling party vice president and former President of Serbia and Montenegro Svetozar Marovic and members of his family.
Saving the Bank at Any Cost
Despite the advice of the World Bank, the government of Montenegro refused to seize the bank controlled by the family of former Prime Minister Milo Djukanovic even though a low interest loan hung in the balance. Instead, it spent two years trying to remove government funds from the ailing bank. As a result, the government had to take high interest commercial loans. Again, the state chose the interests of First Bank over the interests of the people.
Banking above the Law
An analysis of Central Bank reports shows that First Bank systematically broke a number of major laws and regulations governing the banking sector including banking law, anti-money laundering law, generally accepted accounting practices and reporting standards.
First Bank - First Family
See the project

Reported by

OCCRP
May 20, 2012

Paying for Madonna, Cheating Montenegrins

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Madonna 1
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Madonna 2
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Madonna 3
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Madonna 4
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Madonna 5
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Madonna 6

First Bank Helped Micunovic Family

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Micunovic 1
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Micunovic 2
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Micunovic 3
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Micunovic 4
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Micunovic 5
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Micunovic 6
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Micunovic 7
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Micunovic 8
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Micunovic 9
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Micunovic 10

The Banking Clan

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Djukanovic 1
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Djukanovic 2
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Djukanovic 3
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Djukanovic 4
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Djukanovic 5
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Djukanovic 6
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Djukanovic 7
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Djukanovic 8
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Djukanovic 9
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Djukanovic 10
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Djukanovic 11
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Djukanovic 12

Best Man, Best Loan Terms

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Rajkovic 1
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Rajkovic 2
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Rajkovic 3
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Rajkovic 4
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Rajkovic 5

Banking Above the Law

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Laws 1
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Laws 2
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Laws 3
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Laws 4
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Laws 5
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Laws 6

Bailout: Protecting the First Family’s Investment

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Bailout 1
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Bailout 2
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Bailout 3
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Bailout 4
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Bailout 5
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Bailout 6
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Bailout 7
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Bailout 8
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Bailout 9
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Bailout 10
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Bailout 11
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Bailout 12
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Bailout 13

Saving the Bank at Any Cost

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World Bank 1
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World Bank 2
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World Bank 3
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World Bank 4
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World Bank 5

Zavala: Cape Corruption

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Zavala 1
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Zavala 2
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Zavala 3
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Zavala 4
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Zavala 5
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Zavala 6
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Zavala 7
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Zavala 8
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Zavala 9
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Zavala 10
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Zavala 11
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Zavala 12
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Zavala 13
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Zavala 14