OFAC Sanctions Balkan Businessman

Treasury’s Office of Foreign Assets Control (OFAC) designated  Jordan “Orce” Kamcev, in North Macedonia pursuant to Executive Order (E.O.) 14033.  Mr. Kamcev has been cited by Forbes as the "Richest Person in North Macedonia", with interests in media, banking, energy, water and real estate.

“Mr. Kamcev abused his position, engaging in corrupt activities and pursuing a self-serving agenda at the expense of North Macedonia’s democratic institutions and citizens,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Treasury remains committed to holding perpetrators of corruption to account.”

 According to OFAC, Kamcev has engaged extensively in corruption, including abuse of office, money laundering, and other offenses for more than a decade starting in the early 2000s.

In 2022, Kamcev was convicted in the “Vodno Land Parcels” trial for participating in a money laundering scheme linked to an illicit purchase of land. In a separate trial, Kamcev pleaded guilty to aggravated abuse of office in the “Empire Case,” in which he was suspected of criminal association, fraud, money laundering, and other crimes related to his businesses.

Additionally, Kamcev used his corruptive influence and wealth to manipulate North Macedonia’s judicial system in his favor. In 2020, the head prosecutor of the Special Prosecutor’s Office (SPO) was charged for accepting a bribe from Kamcev and testified that Kamcev paid money in exchange for favorable arrest conditions and case outcomes. Kamcev later initiated a civil case against the head prosecutor and others, claiming they had extorted him. A Skopje civil court ruled that Kamcev was not a victim and was not entitled to compensatory damage.

In the aftermath of the scandal, the SPO collapsed. As a result, many high-level corruption cases that the SPO had been considering remain stagnant and undecided, delaying accountability for numerous individuals who have engaged in corruption similar to Kamcev.

OFAC designated Kamcev pursuant to E.O. 14033 for being complicit in, or having directly or indirectly engaged in, corruption related to the Western Balkans, including corruption by, on behalf of, or otherwise related to a government in the Western Balkans, or a current or former government official at any level of government in the Western Balkans, such as the misappropriation of public assets, expropriation of private assets for personal gain or political purposes, or bribery.

[OFAC link]