Podgorica, (MINA-BUSINESS) – Montenegro's Court of Appeals has upheld the acquittal of businessman Dusko Knezevic and Atlas Bank executives Marko Nikolic and Dijana Zecevic, dismissing appeals filed by the Special State Prosecutor's Office and the legal representative of the injured party, Airports of Montenegro.

The ruling confirms the earlier verdict of the High Court's Special Division in Podgorica, acquitting Knezevic, Nikolic, Zecevic and bankrupt Atlas Bank of charges related to abuse of position in business operations.

The case concerned a €3 million term deposit placed by Airports of Montenegro with Atlas Bank. Prosecutors alleged the defendants unlawfully retained the funds after the deposit matured instead of transferring them to the company's transaction account, causing financial damage to Airports of Montenegro and unlawful gain to the bank.

The Court of Appeals found there was no evidence the defendants had committed the criminal offences charged, concluding that their actions were aimed solely at extending the deposit agreement through a new annex. It cited correspondence between the parties, negotiations over the agreement and the bank's payment of interest as evidence supporting that conclusion.

The court also noted that the funds were ultimately transferred to Airports of Montenegro's transaction account and that prosecutors failed to prove either unlawful financial gain for Atlas Bank or actual damage to Airports of Montenegro. It added that failure to fulfil contractual obligations does not automatically constitute a criminal offence but may instead give rise to civil liability.