The Commission is aware that Austria’s Carinthia province parliamentary commission uncovered Hypo Alpe-Adria Bank’s (HAAB) illegal dealings in the Balkan region with EUR 8 billion worth of suspicious uncollected loans to 12 countries.
Nationalisation (Austria) and bailout (Germany — Bayerische Landesbank) covered up the huge money laundering scheme. HAAB grew with politicians from Austria and the Balkan region siphoning money during the UN arms embargo and ensuing corrupt privatisations. HAAB’s ‘loans’ approved in the last two decades to politicians and ‘connected individuals’ in the region — without any collateral — were never supposed to be repaid.
Should the Commission not insist on the identification of the Austrian, German, Croatian and other involved countries’ politicians who have benefited from this money laundering scheme that has cost taxpayers billions of euros? Who are the owners of Hypo Alpe-Adria Consultants (HAAC), owning a portfolio of real estate estimated at EUR 1.5 billion, which includes more than 50 projects comprising a total of two million square metres in Croatia (66 %) and Serbia (33 %)? Why was this lucrative arm of the HAAB divested just before the Austrian government nationalised the parent company HAAB?