30 November 2006

Kosovo police raid bankrupt bank, arrest 4

Associated Press, Monday, November 06, 2006 11:10 AM

PRISTINA, Serbia-Police raided several offices of a bankrupt bank in Kosovo on Monday and arrested four suspects as part of a corruption investigation targeting the province's banking system.

Earlier this year, an international prosecutor began an investigation on the dealings of Credit Bank after it was closed, declaring bankruptcy.

Police officers raided 14 locations in a dawn operation across the province. The force estimated the damages at €16 million (US$20 million) and said those arrested were members of the bank's main board, according to a statement.

"Kosovo will not be a haven for crime," said U.N. police chief Stephen Curtis, following the operation. "This will not be a place for criminals to hide from justice."

Kosovo has been administered by a U.N. mission since the end an ethnic war in mid-1999. The province of 2 million is the poorest region in Europe.