Former head of state Milo Đukanović provided the authorities with inaccurate and incomplete information about his assets for years, failing to declare at least seven wristwatches, the total value of which was up to 225.000 euros.
This follows from today's decision by the Agency for the Prevention of Corruption (ASK), which, among other things, officially requested photographs from the photo archive of "Vijesti" for the purposes of the investigation.
Radi se o časovnicima poznatih brendova - Franck Muller (Mariner Chronograph), dva sata marke Cartier (Pasha de Cartier i Pasha de Cartier Moonphase Chronograph), Breguet (Classique Tourbillon Thermometer), Roger Dubuis (Excalibur 45 Automatic), Rolex (Cosmograph Daytona 18k Yellow Gold "Zenith") i Patek Phillipe (Neptune 5081J-001).
The Network for the Affirmation of the Non-Governmental Sector (MANS) initiated proceedings before the Agency back in 2019.
"It is established that Milo Đukanović, while serving as President of Montenegro, or in the period after his termination of office, submitted income and asset reports to the Agency with incorrect and incomplete data, because he did not declare movable property with an individual value exceeding 10.000 euros, which refers to a collection of wristwatches, on the basis of which he violated Article 25, paragraphs 2 and 3, and in connection with Article 26, paragraph 1, item 3, indent 2 of the Law on the Prevention of Corruption," states the enacting clause of the Agency's decision, signed by Acting Director Dušan Drakić.
Almost a decade and a half ago, in November 2011, "Vijesti" reported on a Breguet Tourbillon watch, which at the time cost 91.300 pounds (106.076 euros). At that time, a London store that sells Breguet Tourbillon watches confirmed to us that it was a prestigious timepiece of that brand...
Radonjić's refusal, Perović delayed the procedure
The explanation states that the Agency received an initiative from MANS in April 2019, along with three hours of photographs, published in the daily newspaper "Dan".
The then director Sreten Radonjić rejected the MANS initiative.
"Acting on the initiative, the Agency issued a decision No. UPI 02-04-53/2-19 of 25.04.2019, rejecting the initiative of NGO MANS as unfounded, without conducting the procedure, stating that in this specific case there are no elements for initiating the procedure, and that the applicant bases his allegations on newspaper articles that are not legally relevant evidence. Against this decision of the Agency, NGO MANS filed a lawsuit with the Administrative Court, which issued a judgment annulling the Agency's act U. No. 2450/19 of 07.09.2021 and ordered the Agency to verify all data ex officio and to conduct a new procedure in which it will obtain a statement from a public official and conduct other evidence in order to establish facts and circumstances of importance for decision-making," the Agency's explanation of today's decision states.
It further states that the Agency, headed by Jelena Perović at the time, on October 12, 2021, asked Đukanović to state his position "in order to establish the facts and circumstances necessary for deciding on this administrative matter, as well as implementing the orders from the Administrative Court's judgment, and bearing in mind the legal provision that movable property owned by an official of greater value must also be reported in reports, regardless of whether it is registered or not."
"The appointed public official stated by document no. UPI 02-04-53/12-19 of 11.11.2021 that, due to the obligations assumed, he is requesting an extension of the deadline for providing a written statement, while in the annex he simultaneously states that the claims about the fabulously valuable watches he owns are an expression of malicious sensationalism. Furthermore, the statement states that he has never owned the watches of the brand 'Patek Philippe Sky Moon Tourbillion' and 'Ulysse Nardin Classic Skeleton Tourbillion 18k white gold mens watch 1700-129/03', while he has owned the watch of the brand 'Breguet Tourbillon Perpetual Calendar 3795pr/1e/9v6' since the 20s, as a gift from a person close to him, and before he took up public office. He also emphasized that he believes that the estimated value of the gift, i.e. its value even when it was new, and especially after so many years, is not does not closely correspond to the arbitrary claims of the initiator, and points out that based on the above, he was not obliged to state the same in a special report...", states the explanation of today's decision.
In August 2022, the agency requested the legal entity "Jumedia Mont", the publisher of "Dan", to submit the photographs in question in the original format, which were used in the text.
"On 15.08.2022. the aforementioned legal entity submitted the requested photographs, which are the subject of this procedure, or on 28.10.2022, at the Agency's repeated request, it submitted the photographs in digital .jpg format. After receiving the above-mentioned photographs, and acting on the order of the Administrative Court's judgment, on 8.11.2022. the Agency engaged an expert from the list of authorized experts in the field of digital evidence, to provide his expert opinion on whether the photographs were suitable for expert examination in terms of their authenticity and identification of the watch worn by the public official. In connection with the above, the Agency was informed on 7.2.2023. that for the expert examination in question it is necessary that the photographs be in digital format, primarily in the original file, in order to expertly examine the authenticity of the photographs and their identification, which are reference for the expert for digital evidence, and that therefore, since the Agency submitted only photographs in paper format, it is not possible to carry out the subject analysis of the evidence", the decision reads.
It was emphasized that the Agency did not take any new procedural actions regarding this case, until "the receipt of a new judgment of the Administrative Court", which on September 21, 2023, again ordered the Agency to adopt an act within 30 days".
Although Jelena Perović claimed before the MPs in the Parliament on March 20, 2024, during a session of the Anti-Corruption Committee that "the proceedings against the former president are in their final stages," she only continued the proceedings 10 days later.
"After the additional period, acting on the allegations from the Administrative Court's judgment, the Agency conducted the procedure and contacted authorized experts on April 1, 2024, with a request to conduct an assessment that would determine whether the Breguet Tourbillon Perpetual Calendar watch was produced in the 1990s, and whether it is still being produced, or until when it was produced, which was answered by a report and an additional report on the assessment of the wristwatch UPI-02-04-53/21-19 dated June 6, 2024, in which the appraiser gave an opinion that he had used all possibilities of sending inquiries and that, upon receiving a response from the company 'Montres Breguet SA', he concluded that the company did not want to publish the data, because they represent a trade secret for them," the decision states.
Expertise in the authenticity of photographs and the value of watches
According to today's decision, the new management, led by Drakić, unable to obtain evidence, and in accordance with available legal options, in October last year addressed authorized manufacturers in Switzerland with a request to obtain information on the market and real value of the watches.
"After receiving a brief information sent via e-mail on 1.11, or 7.11.2024, in which no response was given to the Agency's request, the Agency had to contact authorized experts - an expert in economic and financial matters in order to determine the value of the movable property, as well as an expert in the field of digital evidence in order to determine the authenticity of the photographs. Thus, during the proceedings conducted before the Agency, two parallel expert assessments were conducted," it was specified.
In order to determine the authenticity of the photographs showing the watches in question and to gather facts relevant to the decision-making process, the Agency has again contacted the editorial staff of "Dana", as well as the company "Daily Press", the publisher of "Vijesti". The editorial staff reportedly submitted photographs from the photo archive, in .jpg format, in mid-January this year, which were taken by photojournalists of the two daily newspapers for the purposes of investigative articles.
"On 17.02.2025. the court expert in the field of digital evidence was provided with the digital format of the original images for the purpose of expert assessment of the authenticity of the photographs, which was carried out on 28.02.2025. The expert concluded that the forensic analysis did not find evidence of subsequent interventions that would affect the content of the photographs. Furthermore, the court expert in the field of digital evidence submitted, at the request of the Agency, an amendment to the basic finding and opinion, on 3.6.2025. ", the decision emphasized.
After once again confirming the authenticity of all the photographs, and "after a detailed analysis of the comparative review of the available photographs with multiple magnifications and comparison of key visual elements", the expert concluded that the watches on Milo Đukanović's wrist do not match the Breguet Tourbillon Perpetual model 3755PRI1E/9v6 and the model 3795PR/1E/9v6.
"In addition, the expert examination determined that there is no Breguet Tourbillon Perpetual Calendar 3795PR/1E/9v6 model (which serial number was stated by the public official in his statement), but that there are factory references from that series that end with the suffixes 3795BR/1E/9WU (rose gold), 3795PT/1E/9WU (platinum), 3795BB/1E/9WU (white gold)... Therefore, it was determined that the only watch from the Breguet collection that has been reliably identified in the photographs is the Breguet Classique Tourbillon Thermometer 3767BA/13/2VU," the decision specified.
It is emphasized that, based on the digital analysis of the submitted photographs, it was concluded that the following watches are shown on the wrist of that public official, namely the "Franck Muller Mariner Chonograph", "in which, due to the limitations of the digital material, it is not possible to determine whether it is the model 8080 CC AT or 9080 CC AT".
Also identified were a watch of the brand "Cartier Pasha de Cartier", reference 2770, in gold with a black leather strap, "Breguet Classique Tourbillon Thermometer 3767BA13/2VU", "Roger Dubuis Excalibur 45 Automatic", reference EX45 77 9 9.71R or related variants, "Rolex Cosmograph Daytona 18k Yellow Gold, Zenith 16518 Inverted Six", in a variant with yellow gold, white dial and black subdials, "Patek Philippe Neptune 5081J-001", which has a particularly recognizable arrangement of Roman numerals, a central minute ring and a recognizable ribbed bezel, and a "Cartier Pasha de Cartier Moonphase Chronograph" in yellow gold, most often under the reference W30012.
Value of used watches from 150.000 to 225.000
In parallel with the digital appraisal, the decision states, the Agency contacted an expert appraiser in the economic and financial field on November 12, 2024, requesting an assessment of the value of the watches.
"After which he informed the Agency that the market value of the watches could be determined based on available information, namely a market analysis that would show the price movement from the lowest to the highest on available exchanges where the auction sale of the watches in question - used ones - is carried out. That analysis was made in February of this year, and supplemented in July, after additional digital expertise.
"On 14.2.2025. an Analysis of the market price movement of watches was provided by an authorized appraiser - a court expert in the economic and financial profession. The analysis of the court expert in the economic and financial profession determined the market price movement of the brands and models of watches in question for the following models: 'Breguet Classique Tourbillon Thermometer 3767BAV13/2VU', which has a mechanical thermometer, a complication that is extremely rare in the world of watches, which makes it a horological unique and for which the market price of 59.502 euros has been determined, 'Franck Muller Mariner Chonograph 8080 CC AT', for which, according to the prices available according to the data on the websites, it has been determined that it can be found on offer at a price of 8.400 to 13.355 euros. 'Franck Muller Mariner Chonograph 9080 CC AT' is a luxury sports watch with an automatic chronograph, the market price of which varies significantly depending on the condition of the watch, from 8.700 to 26.000 euros (original watch with original box and warranty ranging from 25.000 to 26.000 euros). 'Cartier Pasha de Cartier', reference 2770, is a luxury automatic watch made of 18k pink gold, whose market price varies from 8.700 to 11.000 euros, 'Roger Dubuis Excalibur 45 Automatic' is a luxury men's watch, for which model, market research has determined that the offer is diverse and available through several reputable sources, and whose price varies from 6.600 to 18.500 euros. 'Rolex Cosmograph Dayton 18k Zenith 16518 Inverted Six', a luxury watch known for its 18k carat gold case and prestigious Zenith El Primerd movement, for which model, depending on condition, accompanying documentation and possession of the original box, the price is from 13.800 to 34.600 euros. The market price of the 'Patek Philippe Neptune 5081J-001' ranges between 15.000 (auction price) and 27.000 euros for preserved specimens,” the decision states.
The market price, it is specified, of the "Cartier Pasha de Cartier Moonphase Chronograph" watch (in yellow gold) ranges from 35.000 to 90.000 euros.
"After additional analysis of this watch model, with a leather strap and a blue fan shape in the upper part of the dial, it was stated that the movement of realized market prices is from 34.000 to 47.500 euros, and that there is currently no offer for the sale of the said model," the decision states.
They claim that the agency delivered the results of the investigation to Đukanović's personal address, and since he did not respond, the same document was also delivered to him through a proxy.
Bonus video:
