Category: Money and deals
Period: from Dec 2022
Outcome: No one investigated (as of 27 Feb 2025)
The security firm T&M Group Solutions was founded in 2022 with 1,000 dinars in capital. In 2025 it reportedly had revenue of around 22 billion dinars and won 66 state tenders, including three where it was the only bidder. EXPO 2027 reportedly pays it up to 69 percent more per hour of security than other contracting authorities do. In 2025 the People's Movement of Serbia filed a criminal complaint alleging rigged procurement; its outcome is not known. In January 2026 Elektrodistribucija Srbije again awarded the firm its meter-reading contract.
T&M Group Solutions was founded in May 2022 under the name Old sekjuriti, with capital of 1,000 dinars. In 2022 it reportedly had five employees and revenue of 428,000 dinars; in 2023 its revenue was reportedly 2.37 billion dinars, and in 2024 around €119.5 million.
In 2025 it reportedly had revenue of around 22 billion dinars and 951 employees. By the end of 2025 it had reportedly won, on its own or as part of a consortium, 66 state tenders worth around €98.5 million; by another count, its contracts since the start of 2023 are worth more than €213 million.
In tenders for security at Kalemegdan, Serbian Railways Infrastructure and the Republic Health Insurance Fund (RFZO), the group led by T&M was reportedly the only bidder, at hourly rates of 960, 1,080 and 924 dinars. In March and July 2026 the EXPO 2027 company awarded it security (6.6 billion dinars) and cleaning (771.6 million) contracts, at 1,560 dinars an hour.
The only other bid for the security contract was reportedly for zero dinars and was rejected, while a cheaper bid for the cleaning contract was rejected over “references”. Director Danilo Jerinić signed both agreements.
On 20 December 2024, the RFZO reportedly awarded the group led by T&M a 4.8 billion dinar contract to clean health facilities, even though the company is registered for security work. On 1 November 2025, the Pension and Disability Insurance Fund awarded it a 585 million dinar cleaning contract, and on 17 October 2025 Serbian Railways Infrastructure awarded it a 470 million security contract.
In September 2024, the City of Belgrade awarded it a 150 million dinar contract to guard city buildings, followed by a new 180 million contract in July 2025.
On 28 October 2025, Elektrodistribucija Srbije awarded the reading of about 2.5 million meters to a group led by T&M. Acting on a request from another bidder, the Republic Commission partially annulled the procurement on 10 December 2025 and ordered a new expert evaluation of the bids.
On 12 January 2026, Elektrodistribucija made the same decision and rejected the other group's bid. The agreement, worth 2.88 billion dinars including VAT and running for two years, was signed at the end of February 2026.
The direct owners are reportedly two companies from the United Arab Emirates, holding 60 and 40 percent. According to the Central Register of Beneficial Owners, Mihajlo Popović and Dane Šijan stand behind them. Šijan was director until January 2024.
Šijan was reportedly detained in Montenegro in 2021 on suspicion of illegally bringing in money, and in 2022 he was banned from entering the country. On 17 December 2023, the firm's vehicles were spotted outside the "Arena", a gathering point for voters from Republika Srpska (2023 elections).
On 27 February 2025, the People's Movement of Serbia filed a criminal complaint with the Higher Public Prosecutor's Office in Belgrade against the owners of T&M and 27 national and city officials, on suspicion that they had rigged procurements worth almost 17 billion dinars in the company's favour.
The party says the company was founded in 2022 to provide security, yet it wins contracts for cleaning, laundry and fire protection. The outcome of the complaint is not known.
At the end of 2025, T&M reportedly owed its workers 2.95 billion dinars in unpaid net wages, while a small number of people were credited with salaries five times larger than the pay of all other employees combined. According to Radar, the firm wrongly stated in its bid that it was a small or medium-sized enterprise.
On 6 March 2025, the firm's workers clashed physically with citizens outside the Belgrade City Assembly. According to Filip Radosavljević, former financial director of the Mother and Child Institute, the firm offered him a percentage of the contracts, and when he refused, he was dismissed.