Dusko Knezevic, president of Atlas Group, was sentenced in first-instance proceedings to four years and six months in prison in the “Kaspia 1” and “Kaspia 2” cases, for abuse of office in business operations through incitement and money laundering, the court announced. The verdict, delivered by Judge Amir Gjokaj, also orders Knezevic to repay €12m to Atlas Bank and €400,000 to the state budget.
The case concerns the failed sale of the Princes Hotel in Bar. According to the indictment, Knezevic issued a controversial guarantee obliging Atlas Bank to pay €12.5m to Kaspia, a UAE-registered company, without the bank’s ability to verify claims. Prior payments of €12.5m from Kaspia to Knezevic were never returned. Following legal proceedings, Atlas Bank eventually paid the guaranteed amount and additional interest and costs.
The case also involved Djordje Djurdjic, a cooperating witness, who was previously sentenced to six months of house arrest in 2019. The court’s ruling highlighted systemic abuse of business authority and financial misconduct linked to international transactions.
