Jasmin Jusufranić, the son of former director of the Cantonal public utility company GRAS, Ibrahim Jusufranić, has had seven properties frozen by the court over allegations of organised crime in the “Profit” case.
The Sarajevo Canton Prosecutor’s Office accuses the younger Jusufranić of unlawfully acquiring assets worth more than 4 million marks. The properties, which were frozen by the Cantonal Court in Sarajevo, were purchased by Jusufranić for 448,719 BAM, and any damages are expected to be recovered through their sale if he is convicted.
Investigative journalists from the Centre for Investigative Reporting (CIN) reveal that Jusufranić attempted to transfer the frozen assets to Alma Kezo, with whom he has a daughter, through a lifetime support agreement.
“I tried, but the court rejected it, and that’s it. I have nothing more to say on the matter,” Jusufranić told CIN reporters briefly.
At the request of the Sarajevo Canton Prosecutor’s Office, he has been ordered not to dispose of or encumber the assets, which include land on Ilidža, three apartments, two parking spaces, and storage units in the Nova Otoka neighbourhood of Sarajevo. As a result, he is not allowed to sell or transfer ownership of these properties to any other person.
“They thought no one would be keeping an eye on it. If you attempt to dispose of property under restraining measures, that should be a signal to the court to tighten those measures. Because what would happen if there were no restrictions at all? All of this property would simply disappear, and then what would the Federation seize in the event of a conviction?”, officials from the FBiH Agency for Asset Management told reporters.
The freeze on the properties was imposed in May 2021. From then until June 2022, the properties in Nova Otoka were managed by the Agency. The restraining order remains in force pending a further court decision.
Million-mark properties at the disposal of Jusufranić’s maintenance beneficiary
In December 2020, the State Investigation and Protection Agency (SIPA) arrested 14 people in the “Profit” operation, including Jasmin Jusufranić. He spent six months in custody until mid-2021.
In July that year, together with 18 others, he was indicted for organised crime, abuse of office, money laundering, and commercial fraud. Among the accused were Jusufranić’s mother, Smiljka Jusufranić, who passed away in January 2026, and his uncle, Branislav Petrović, who died in February 2023.
The Sarajevo Canton Prosecutor’s Office alleges that between 2006 and 2014, they operated in the Sarajevo Canton as an organised criminal group that unlawfully acquired assets worth around 30 million marks. The group was allegedly led by Zijad Blekić, Edin Dizdar, Armin Mulahusić, and Ibrahim Jusufranić, the former director of GRAS. According to the indictment, the scheme involved fictitious share purchases and the siphoning of funds through various transactions, particularly via the “Marijin Dvor” project and dealings in shares of the Sarajevo-based company Unioninvest, where Jusufranić junior served as a member of the Supervisory Board.
The evidentiary phase of the proceedings has now been concluded.
During this period and thereafter, Jusufranić purchased several properties which were later frozen by the Cantonal Court in Sarajevo. He bought land on Ilidža in 2006 for 90,000 marks, while the properties in Nova Otoka were acquired in 2016 and 2018 for a total of 358,719 marks.
In an apparent attempt to get ahead of the judicial authorities, Jusufranić tried to transfer ownership of these properties to Alma Kezo. In September 2025, the pair signed a lifelong maintenance agreement.
Under the contract, Kezo undertook to care for Jusufranić’s health, hygiene, nutrition, and burial arrangements, and in return would become the owner of the properties after his death. If she were to predecease him, the assets would pass to their daughter.
The agreement also states that they are registered at different addresses, that he is married, and that she is single.
Notary Adnan Suljić warned Jusufranić and Kezo that the properties in question were under a restraining order and that they constituted marital property, meaning the consent of Jusufranić’s wife would also be required.
The following month, Kezo attempted to register a note of the existence of the agreement in the land registry. However, the Municipal Court rejected the request, as the properties were subject to a disposal ban.
Kezo did not respond to CIN journalists’ calls.
While she was managing the properties in Nova Otoka, the Federal Agency for Asset Management was collecting rental income from the apartments. The funds are currently held in a dedicated account, and could be released to Jusufranić should the court so decide.
“Officials from the Federal Agency found his unmarried partner in one of the apartments, together with two individuals described as friends. They then concluded a lease agreement with the Agency, and we continued the tenancy arrangements in those apartments,” the Agency told CIN journalists.
Legal experts say that the prohibition on the disposal and encumbrance of property is one of the key precautionary measures used to secure assets during criminal proceedings.
“No party can be prevented from attempting to secure an unjustified change of ownership, even if such registration is not permitted. However, what is crucial is that the court prevents any such unlawful disposal through a lawful decision,” said lawyer Mirza Ališah.
“As lifelong maintenance agreements have elements of property law, it is, in my view, clear that the restraining order also covered any change in the legal status of the property at the court, as well as any form of entry or annotation relating to it,” said Darko Datzer, full professor at the Faculty of Criminal Justice, Criminology and Security Studies at the University of Sarajevo.
Jusufranić’s ‘Profit’
In addition to freezing the properties, the Cantonal Court also seized cash from Jasmin Jusufranić in various currencies amounting to around 46,000 BAM, as well as shares in the company “Vranica” worth 65,000 BAM. From his mother, Smiljka Jusufranić, the court confiscated 588,970 euros. The funds are subject to a disposal ban until February 2028 or until a further court decision is issued.
Valuable family gifts
In April 2025, Smiljka Jusufranić gifted her son Jasmin four commercial premises, a house in Sarajevo, and a house in Kiseljak.
The family acquired part of this property after Ibrahim Jusufranić stepped down as director of GRAS in 2006, after 17 years at the helm of the public company. That same year, an investigation was launched against him on suspicion of causing nearly 1 million BAM in damage to GRAS.
CIN reported over a decade ago that he left behind 25.2 million BAM in debts to the company, while the Jusufranić family invested at least 7.5 million BAM in private property. Ibrahim Jusufranić passed away in 2020.
Three months after his mother gifted him the properties, Jasmin Jusufranić signed a lifelong maintenance agreement with Kezo. Under the contract, she is set to become the owner of the properties he received from his mother after his death, except for a house in Sarajevo’s Kovačići neighbourhood. She will also become a co-owner of the International University in Travnik, founded by the Jusufranić family.
