In just two days in 2019, the son of former minister Branimir Gvozdenović founded a company and through it immediately entered into a contractual relationship for the purchase of a share of a land plot in Tivat, which is located in an attractive location not far from Porto Montenegro and on which a residential building has been built in the meantime, according to the findings of Action for Social Justice (ASJ).

The decision on the establishment of the company “Iron Investments and Advisory”, in which Marko Gvozdenović was the full founder and director, was made on August 13, 2019, after the application that was submitted that same day at 12:09 p.m., a day later the company immediately received a decision on registration for taxpayers and on the same day entered into a contractual relationship for the purchase of shares for a plot of land in Tivat.

It is a plot of land in Donja Lastva of about 750 square meters, for which a purchase contract was concluded in June of that year for a total price of 450 thousand euros. That June, a local resident sold the land to Liya Morokhovska (share price 125 thousand euros), Maria Listytska (share 50 thousand euros), Semen Kantor (share 50 thousand euros), Dejan Marinović (share 112.5 thousand euros) and Ljubiša Šestović (share 112.5 thousand euros).

Morokhovska, a Ukrainian woman, is one of the owners of Zapad Bank, ASJ's findings indicate that Kantor and Listytska are related to her, who later transferred their shares to her through a gift agreement, Dejan Marinović is the former director of the Tax Administration and the owner of the company “Graal”, and Ljubiša Šestović is the brother-in-law of Branimir Gvozdenović.

Less than two months later, i.e. on August 14, 2019, the purchase contract was annexed so that Marinović gave his share in the purchase of land for the price of 112.5 thousand to Marko Gvozdenović's company, i.e. “Iron Investments and Advisory” as a new buyer, while on the other hand, Ljubiša Šestović gave his share for the same price of 112.5 thousand to the company “Graal”. It is owned by Dejan Marinović.

With this annex to the purchase contract, the seller (local resident) gives consent for the buyers to be registered in the cadastre, because “the purchase price has been paid”, which the Tivat cadastre does shortly after, i.e. in September 2019.

In April 2021, the new buyers of this land plot conclude a contract on the joint construction of a residential building (three-storey building) in order to regulate the ownership rights in the future building and mutual financial obligations in the construction, and it is agreed that Gvozdenović's and Miranović's companies will receive 25 percent of the ownership each, and Morokhovska 50 percent.

The value of the construction of the residential building is estimated at 766 thousand euros, including VAT. Of this, Morokhovska should invest 383 thousand euros, Marko Gvozdenović's company 191.5 thousand euros, and “Graal” was in charge of investing the remaining amount in order to complete the facility on a turnkey basis.

The company “Graal” practically dealt with the building itself, which had to be built within 18 months, from the submission of the application for construction.

Meanwhile, in an attractive location in Donja Lastva, where today a square meter of an apartment is sold on average from 3.5 thousand to over 5 thousand euros, this residential building was built. The Tivat cadastre has registered a building with 16 residential units on the land plot (individual square meters from 22 square meters to 59 square meters), and some of the apartments have already been sold.

The company “Iron Investments Advisory” was originally established with the main activity of consulting activities related to business and other management.

Action for Social Justice

Ines Mrdovic