Taneo group owner arrested for 403 million dinar fraud

Serbian police have arrested G. K., the owner and responsible person of the Belgrade-based company Taneo group doo, on suspicion of fraud, falsifying official documents, and money laundering.

In April 2024, the suspect allegedly misled a representative of a Jordanian company during a contract negotiation for goods valued at 4.9 million euros. Despite knowing he could not fulfill the delivery within the agreed two-month timeframe, he secured an advance payment of 403,710,000 dinars (approximately 4.2 million euros).

Authorities state that the suspect used the funds to pay accounts of other legal entities connected to his firm, settle debts, and cover personal expenses. Following a search of his residence and premises, police seized approximately 52,000 euros, seven luxury watches—including brands such as Audemars Piguet, Rolex, and Patek Philippe—and four high-end vehicles: a Bentley Continental, an Audi A8, a Mercedes S-Class, and a Mercedes G-Class.