Macedonian Court Finds No Money‑Laundering Offence in Izgrev Credit Case

A Macedonian court ruled that a 19‑year‑old case involving the Izgrev company cannot constitute a money‑laundering crime because the funds under scrutiny originated from a legitimate bank loan. Businessman Tomе Glavchev, now head of the Macedonian Basketball Federation, highlighted the decision, noting that the prolonged legal uncertainty had harmed families and companies.

Glavchev compared the outcome to a previous “Postal Bank” case where prosecutors similarly alleged money‑laundering despite the money also coming from a bank credit. He urged prosecutors to base accusations on solid evidence and law rather than speculation, stressing the human cost of prolonged judicial proceedings.