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INVESTIGATION STARTED IN SOUTH CYPRUS FOR MILOSEVIC’S STOLEN BILLIONS (05.08.02)

According to the Greek Cypriot daily ‘Alithia’, as reported it the Turkish Cypriot press, the Greek Cypriot Attorney-general has started a large-scale investigation following allegations that South Cyprus was a vital junction in laundering money for former Yugoslav President Slobodan Milosevic, and that it has been used in breaking  UN-imposed sanctions on Yugoslavia.

Attorney-general, Alekos Markides, pointing out that he was determined to bring Milosevic’s money laundering activities to light, said, “a lawyer’s role within a company is very important and parallel to his/her duty comes responsibility. It is worth knowing that; there is a basic weakness in Cyprus’ financial system, since the necessary laws are not in place, which makes it a crime if individuals break the sanctions imposed by the U.N. We don’t have the opportunities to force people to adhere to international law, and this stems from a basic lack of laws. A lawyer is not obliged to act as a detective, but faced with a certain illegality, he can’t close his eyes”.