According to the same document, the co-ownership structure includes the different percentage shares of the funds BC Partners, Kohlberg Kravis Roberts & Co (KKR), the EBRD, and the management, in which Šolak is in the lead. HOW ŠOLAK BECAME THE RICHEST SERB: Amassing a personal wealth by the illegal use and usurping of public resources (7)Īll Šolak's footprints lead to offshore zones – The Isle of Man, The Cayman Islands, and The Virgin IslandsĪccording to its official financial statement for the first half of 2020, United Group had completed over 100 acquisitions in the past 20 years and made as much as EUR 793 million in profits in 2020. The portal also pointed out that Šolak's media group is one of the biggest telecommunications groups in the Balkans, providing internet services, telephony, and TV programming to domestic and foreign clients, with a revenue of app. Owing to the Maltese tax system, this company only paid EUR 400,000 in taxes on this amount. The web portal also discovered that until 2015 Dragan Šolak had owned the Maltese company Prestige Media, which made a total of EUR 10 million in profits before liquidation. Once the transaction was completed, the company way liquidated in late 2015. Even though this company had no employees, between August 2014 and August 2015 it received EUR 6.7 million from the Croatian Telekom, Iskon, and VIPnet, and paid as little as EUR 27,000 in taxes in Malta. According to this information, the company United Media Malta was founded in 2014. Malta Today discovered that the tax evasion took place when a number of TV stations from the Balkans had paid Šolak's media group EUR 6.7 million for the rights to broadcast sports content, but this money ended up in Malta, Cyprus, and Liechtenstein. The Malta Files project, run by the European Investigative Collaborations (EIC) with the participation of the portal Malta Today, exposed the extent to which they had used the Maltese tax system to transfer their profits into the country and pay less tax than they would have in Serbia. HOW ŠOLAK BECAME THE RICHEST SERB: The unstoppable push into the regional market with the support of big investment funds (4)
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