Montenegro: Fugitive Businessman Loses Gambling Permit

Published: 02 October 2012


The Government of Montenegro revoked the gambling permit for a casino hotel owned by fugitive businessman and Darko Saric associate Rodoljub Radulovic last week. Radulovic has been under investigation in several countries for money laundering, cocaine trafficking, and stock fraud and is or has been wanted by British, Argentine, Serbian and United States prosecutors, according to reporting done by OCCRP.

OCCRP's investigation earlier this year found that Radulovic amassed tens of millions of dollars through stock manipulation schemes and offshore companies that court records say were shells designed to funnel money to Radulovic and his associates.

The permit revocation is according to local media reports the first decision of its kind in Montenegro, where Radulovic has done business since establishing his firm "TRECOM" in 1989. TRECOM is the owner of the casino-hotel, called "CATTARO," as well as several other properties in the city of Kotor, a medieval walled city on the coast of Montenegro.  Radulovic, like many controversial businessmen accused of drug related crimes who call Montenegro home, has faced little trouble from prosecutors in the small, coastal country but has drawn more attention outside.