In a special series, Kurir reveals how exactly this controversial billionaire fulfilled his 'American dream' in the murky waters of the Balkan transition

Despite his efforts to pass himself off as a no-nonsense businessman and his company as a leading telecommunications operator in Southeast Europe, SBB faced numerous allegations of usurping private property of citizens during its lawless business operations in the field.

While Šolak was buying private jets and golf courses at exclusive locations, according to many citizens, his SBB was illegally tapping into the electricity from the communal and privately-owned electric meters in apartment buildings. The tab for providing power to Šolak's company was picked up by the tenants of the buildings in question, who were unaware of this, nor did they ever agree to it.

DON'T MISS OUT

HOW ŠOLAK BECAME THE RICHEST SERB: From selling VHS tapes to owning Southampton FC (1)

Making over 36 million euros stealing electricity

In July 2019, at a special press conference, Deputy Mayor of Belgrade Goran Vesić informed the media about the case of SBB's illegal tapping into the electricity in Drinčićeva Street in Belgrade, where the company's network had been unlawfully connected to the meter of tenant Živorad Jovanović for a full ten years. As the damaged party, the meter owner reported it, and PU City Housing teams then confirmed his suspicions.

The letter that was made public at the time revealed that SBB, acting fraudulently towards its users, refused to disconnect from the usurped electric meters, demanding that all the users in the residential unit in question terminate their contracts first – a condition practically impossible to meet.

According to the EPIS experts' calculations, in the 20 years of doing business in this way, SBB had illegally transferred to its users the potential costs exceeding 36 million euros. Moreover, SBB never paid the grid connection charges, nor did it cover the meter purchase expenses or any other obligations paid regularly to the Electric Power Industry of Serbia, bumping up the amount above.

DON'T MISS OUT

HOW ŠOLAK BECAME THE RICHEST SERB: The return to Serbia and the start of the strategic partnership with George Soros (2)

HOW ŠOLAK BECAME THE RICHEST SERB: The partnership with Soros – a strategic watershed in Šolak's business career (3)

Buying airplanes and football clubs while people paid for his electricity

While Šolak's companies were tapping into the electricity from the communal and privately-owned electric meters, and the tenants in the apartment buildings in question were paying for it, SBB owner Dragan Šolak was buying private jets which not even the governments of most countries around the world could afford.

Falkon F-900foto: Shutterstock

In June 2019, the Serbian media reported that the founder and co-owner of the SBB cable system had bought a Falcon F-900 jet for EUR 45 million. Three years earlier, in May 2016, Šolak bought a Falcon 2000 LXS for EUR 35 million, in almost exactly the same way.

Šolak's arrogance culminated in his recent purchase of the Premier League club Southampton FC, for which he paid EUR 120 million of private money. According to unconfirmed reports, the same amount went into repaying the debt of England's Saints, which he had taken over.

COMING UP NEXT: A well-oiled mechanism for sidestepping the law and breaching obligations