Police raids conducted this morning targeted over two dozen former officials of the ELEM/ESM state owned energy company and their accomplices. According to the Interior Ministry, the suspects, including two former directors of ELEM, caused over 6 million EUR in damages to the company with the purchase of overpriced energy additives from dubious companies.

Former ELEM director Vasko Kovacevski, a close ally of former Prime Minister Zoran Zaev, avoided arrest because he has left the country months ago. During a press conference Prime Minister Hristijan Mickoski confirmed that Kovacevski is abroad, and that he will be made available to the investigation in due time.

Kovacevski’s successor to this position Vasko Stefanov was arrested later today, after he returned to Macedonia hours after the initial raids. Pece Matevski, former director of the REK Bitola coal plant was arrested, as were Ardijan Muca and Danco Stojanovski (former commercial directors in ELEM), Nebojsa Stojanovic (former director of the TEC Negotino oil plant that is part of ELEM) and a number of co-conspirators. These include members of Stojanovic’s family, who are suspected of money laundering.

Stojanovski is named as organizer of this conspiracy. He had a relative of his, Maja Jordanova, who was a postal worker in Veles, set up a company that, despite her complete lack of expertise in the oil business, won huge contracts to procure chemical additives to be used in ELEM’s thermal plants. The additives were bought in Italy at prices several times higher than the market prices. The total damage to the company is estimated at 6.5 million EUR. A total of 29 persons were covered in the investigation, and 4 of their businesses.