Through mysterious offshore schemes to valuable stocks and exclusive locations (Part Three)

Author: Vlatko Stojanovski Besides companies related to a famous tycoons, politicians, convicts, and even parties, on the list of over 400 companies in this country, co-owned by foreign companies based in specific jurisdictions, there are also mysterious offshore companies with a conspiratorial ownership structure. According to the official data and documents that we provided from several institutions, these companies in the past have changed many owners from various offshore destinations, while in the meanwhile they were earning millions, trading shares and stocks and acquiring attractive real estate. In that context, the most illustrative example is the well-known company named “Exico”, which owners until now were three different companies from Belize, Switzerland and the United States. From the foundation twenty years ago until now, this company with an unknown owner has made a profit of millions and acquired thousands of...

Tycoons, politicians, convicts… who owns the offshore companies in the country? (Part II)

Author: Vlatko Stojanovski As we announced in the part I of the series dedicated to offshore companies in North Macedonia, the ownership structure of 408 companies includes other legal entities registered in 28 foreign countries, mostly European „specific jurisdictions“, known as „tax havens“  which offer the highest level of discretion. In this part of the series we are writing about these companies, their ownership structure, current status, basic activity… According to the data that we provided from Central Registry, many of these companies are owners of other companies, which leads to other companies etc. Although some of them are in bankruptcy, some other are inactive, still, most of them are active and provide significant turnover of funds. Part of these companies make a profit and some of them are operating with a loss. By the way, a significant number...

Over 15 million euros paid after court orders for land expropriation for the highway Kichevo – Ohrid, of which 5 million euros for costs

Author: Sashe Dimovski A resident of a village of Ohrid, who was deprived of 4 square meters of land for the construction of the road Kichevo-Ohrid, remained dissatisfied with the offer of the state to pay him 550 denars per square meter and asked the court to determine the real price. An expert was hired, who estimated that the property was worth 20 euros, twice as much as what had been offered. The court, after several hearings, determined compensation of 4,800 denars, and also awarded costs in the court proceedings of 30,000 denars, which is 8 times more than the value of the litigation. This case is not the only one where the court costs have exceeded the value of the litigation, and thus, about 5 million euros were spent only for court costs, lawyers, forensic experts and appeals,...

Alternating nationality for a job position

Author: Vesna Ivanovska-Ilievska For over 20 years, she has been exploring the archeological sites in the country, and yet she does not have a single day of work recorded in her years of service. In cold weather, under the hot sun, at underwater sites, archaeologist Valentina Todoroska has been a regular member of archeological teams in Macedonia and the region. She has collaborated with almost every museum in the country, and her last long-term contract engagement was with Dr. Nikola Nezlobinski Museum in her native Struga. At the end of 2019, the museum announced an open job position. After four years of work as a freelancer, Todoroska applied for the post in the hope that her employment status would finally be resolved. Although the job advertisement stated that the position was exclusively intended for an archaeologist of Albanian nationality,...

The problem called Rusino: The garbage is being dumped and burnt, the solution is still on paper

author: Dejan Angelovski             Illegal wasteland Rusino is located above the city of Gostivar, in Banjicko Pole, whereas the river Sushicka is watering Banjicko pole and flows into the river of Vardar. Many citizens of Gostivar have pictured this location as a place for relaxation, but, instead, Rusino got the repution of a wasteland, which according to the last data has expanded up to 120.000 square meters up to the National Park Mavrovo, whereas many people come to find their peace in the vast green area and the wood paradise. Garbage from nine municipalities from Polog region of about 120-140.000 tons a day is being disposed in this wasteland, which is often being burnt and the smell and smoke are spreading over Gostivar and its’ area. This is the case this winter as well. Even though the authorities have...

Municipalities are sinking in debt – Tetovo, Ohrid and Karposh at the top of the list

authors: Aneta Dodevska and Ruzica Fotinovska The debts of the municipalities in the country are growing. As much as 70 out of a total of 80 municipalities in the country reported overdue and unpaid obligations on various grounds. This means that 87.5% of all municipalities in the country face financial problems for regular servicing of the municipalities. In the third quarter of the year, the overdue and unpaid obligations of all municipalities in the country amounted 63,892,100 Euro. According to the analysis in relation to the situation with the second quarter, it shows an increase in unpaid liabilities by 13 million euros. On the latest “debt list” announced by the Ministry of Finance, concluding with the third quarter of 2020, in the first ten, the biggest debtors are three municipalities: Tetovo, Ohrid and Karposh.                                                                                                                                                                                      Source: Ministry of Finance...

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