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Croat police questions Orco Property Group CEO

Published on 04/01/2011

Croatian police are questioning the chief executive of the Luxembourg-based real estate development and hotel group, Orco Property Group, an interior ministry spokeswoman said Tuesday.

Jean-Francois Ott is not detained, Aleksandra Ljuba told AFP, but police want to talk to him as part of a probe into so-called economic crimes which can include fraud and embezzlement.

He has agreed to be questioned by police within the investigation that is led in cooperation with local prosecution authorities, the spookesowman sai without giving further details.

National television reported earlier Tuesday that Ott was brought in by Zagreb police for questioning.

He was to be questioned a day after a failed agreement between the Orco Group and Croatia’s privatisation fund about restructuring of an island hotel complex which accumulated losses, the television said.

Orco Group holds a 55-percent stake in the Suncani Hvar complex on the southern island of Hvar, while the privatisation fund holds 31 percent.

Local media reported that Ott was to be questioned about the Suncani Hvar privatisation that was conducted in 2005.