Serbia - Minister of Finance
About
Siniša Mali worked as a consultant for Deloitte, the multinational accounting and business advisory firm, before entering politics in 2001. Initially, he helped lead Serbia’s privatization efforts, as the country transitioned to democracy Then, in 2013, he became a senior government adviser for economic affairs. The following year, he became Belgrade’s mayor. He served until May 2018, when he became Serbia’s finance minister.
In 2015, KRIK, a Serbian investigative media organization and ICIJ partner, revealed that Mali used two shell companies to buy apartments, worth $6.1 million, along Bulgaria’s Black Sea coast. KRIK reported that Mali did not declare his interest in the BVI companies or the real estate he bought, as required under laws governing the conduct of public officials.
Political Career
Minister of Finance (2018-present)
Mayor of Belgrade (2014-2018)
Special Adviser for the Economic and Financial Affairs of the Prime Minister (2001 -2003)
In The Pandora Papers
The Pandora Papers show that Mali created two shell companies in the British Virgin Islands in 2011 and used the companies to purchase apartments.
He previously denied owning those companies.
In July 2011, Mali became a shareholder in Etham Invest & Finance Corp., which held shares in Erul 11 EOOD, a company that offers “holiday houses and villas on Bulgarian seacoast,” according to the leaked documents.
One month later, Mali created and became the shareholder of Brigham Holding and Finance Inc. The company owned shares in another Bulgarian company, Erma 11 EOOD. In August 2014, Mali transferred his shares in Brigham to a Bulgarian lawyer and resigned as director.
Mali was also director of Alessio Investments Ltd. in the BVI and Exetera Overseas SA in Panama, according to records.
Mali did not reply to requests for comment.
Secrecy Jurisdictions
British Virgin Islands
Secrecy Broker
At the heart of the Pandora Papers are 14 offshore firms that help clients establish companies in secrecy jurisdictions. This profile draws on leaked data from these providers:
Discover this Power Player’s offshore connections.
The information on this profile is current as of October 3, 2021. Read more about the Pandora Papers data.