SSPO investigates Russian nationals on suspicion of money laundering: Properties purchased for €600,000

The Special State Prosecutor’s Office (SSPO) has launched an investigation against two Russian nationals on suspicion of the continuing criminal offence of money laundering. According to the prosecution’s suspicions, real estate properties in Budva and Sveti Stefan, with a total value of €600,000, were purchased using money believed to have originated from criminal activity.

Acting on a criminal complaint filed by the Special Police Department, the Special State Prosecutor’s Office issued an order to open an investigation against the suspects, identified as E. L. and E. L.

- The subject of the investigation is the conversion of money suspected of having been obtained through criminal activity, with the aim of concealing its origin - the SSPO said in a statement.

According to the Special State Prosecutor’s Office, in May 2023, the female suspect purchased a residential building comprising separate units, an auxiliary building and a yard in Sveti Stefan, in the Municipality of Budva, for €450,000, using money belonging to her husband, the co-suspect E. L. The same funds were allegedly used to purchase an apartment and a garage parking space in Budva for €150,000. The purchase prices were paid in cash.

The prosecution suspects that the money originated from criminal activity for which E. L. has been convicted by a final court judgment and in connection with which he is also facing separate criminal proceedings in Russia. 

According to the SSPO, the female suspect sold the apartment and garage parking space in Budva to a third party in July last year for €149,000.

At the request of the Special State Prosecutor’s Office, the male suspect was remanded in custody, while the female suspect was placed under supervisory measures, including a ban on leaving her residence, the temporary seizure of her travel document and an obligation to report periodically to the competent state authority.