Sarajevo, April 6, 2026. | AdriaDefense.com

Three senior officials of the Federation of Bosnia and Herzegovina — Energy Minister Vedran Lakić, Defence Minister Zukan Helez, and Federation Prime Minister Nermin Nikšić — have publicly turned against Sikto LLC and the Vice President of Regulus Global Akos Horvat, announcing legal action.

Lakić: Defamation Lawsuit, Companies to Follow

Energy, Mining and Industry Minister Vedran Lakić has announced a personal defamation lawsuit against Akos Horvat, stating that Horvat has spent months publicly making claims that are, in Lakić's words, false and damaging to the reputation of Bosnia's defense industry companies. Lakić also announced that the companies themselves will file separate lawsuits.

"The defence industry is not and will not be a testing ground for experiments, pressure, or takeovers under any circumstances that are not transparent and lawful. The spreading of falsehoods, manipulation and personal attacks will not go unanswered. Every attempt to deliberately mislead the public and damage the reputation of institutions and companies in the Federation of BiH will carry corresponding legal consequences. We will not allow the success of our domestic industry to be undermined by statements from those who clearly do not understand the system or are trying to bend it to their will," Lakić told Klix.ba.

The Minister also highlighted the contradictions in Horvat's public positions — Horvat previously advocated for the dismissal of Binas management, only to now strongly defend it — questioning what lies behind such shifts.

"The Federation of BiH is not and will not be a space where individual investors dictate management structures or business rules. Every investment is welcome — but exclusively in compliance with the law, established procedures and the strategic interests of the state. Claims of 'blockades' are simply an attempt to present the non-fulfilment of certain demands as a systemic problem," Lakić said.

Helez: Letter from Zelenskyy's Office and Fraud Allegations

A day earlier, Defense Minister Zukan Helez publicly called out Horvat, describing him — in his own words — as "an international criminal and fraudster."

Helez revealed that as early as May 2025, he received a letter he describes as an official warning from the Office of Ukrainian President Volodymyr Zelenskyy.

"I received an official letter from the Office of President Volodymyr Zelenskyy of Ukraine, which clearly warns about Akos Horvat. The letter, which was also delivered to the Government of the Federation of BiH, states that the Ukrainian side ordered arms worth approximately 300 million KM and paid an advance, after which Horvat cut off all communication and disappeared from the deal," Helez stated.

AdriaDefense.com is unable to independently verify the contents of the said letter.

Helez also raised allegations of irregularities in Binas's operations: "The same product — a fuse manufactured by Binas — was sold at drastically different prices, ranging from 53 to 107 euros. The appointment of new management is an opportunity to fully investigate and make the company's operations transparent." Helez's claims have not been legally verified.

Nikšić: "They Tried to Blackmail Me" — and an Investigation Announced

In a statement given to public broadcaster FTV, Prime Minister Nermin Nikšić made perhaps the most direct public remarks to date, revealing details he had not previously disclosed.

Confirming the allegations regarding the Ukrainian advance payment, Nikšić said: "These are serious allegations, but they are very easy to dismiss. However, no explanation has been given for the Ukrainian Government's allegations that Regulus took a $200 million advance and delivered nothing. This is a company that has raised my suspicions."

The Prime Minister announced the launch of an investigation based on available information — that Regulus representatives had misrepresented themselves internationally, collected advance payments and created additional financial losses.

The most serious allegation concerns direct pressure on the Prime Minister personally: "They tried to blackmail me. They 'friendly advised' me to be good to Regulus."

Nikšić also revealed that Regulus had engaged retired U.S. intelligence officers for its purposes — which, in the context of previous pressure campaigns involving high-profile American figures such as former Attorney General Barr and former Energy Secretary Brouillette, takes on additional significance.

The Prime Minister dismissed allegations of political hiring at the factories and denied that family members of those in government hold positions in defence company management: "We will hire 50 people at BNT, which three years ago was unimaginable because the company was on the verge of closure. How can we take profits and use them for pre-election purposes?"

Background: How Regulus Entered Pretis and Binas

Regulus Global allegedly entered the ownership structure of Pretis in early 2024, acquiring a 41.5% stake for approximately 8.7 million euros through Sikto LLC and two other companies, simultaneously acquiring a 25% stake in Binas d.d. in Bugojno. From that point, pressure on the Federation Government did not relent. In April 2025, Chairman Somerindyke organised a meeting in Washington surrounded by former Attorney General Barr and former Energy Secretary Brouillette, after which came letters threatening to escalate the matter to the State Department, the National Security Council and Congressional committees.

The Federal Government attempted to find constructive solutions: it dismissed Pretis's long-serving director Almira Zulić — solely under pressure from Regulus — despite the fact that Pretis had recorded outstanding business results under her leadership. According to CompanyWall data, the company's revenues nearly tripled in two years — from 27.6 million euros in 2022 to 78.7 million euros in 2024 — while net profit in the same period jumped from 3 million to 19.8 million euros. The company's credit rating for 2025 is A+. In her place, interim director Ajdin Kupus was appointed and the Government permitted an international audit. Every concession was met with new demands. Kupus eventually resigned, citing disagreements with the Supervisory Board.

Within 48 hours, three senior Federation of BiH officials delivered a coordinated public response to Regulus's media campaign — lawsuits, the disclosure of the Kyiv letter, an announced investigation and an allegation of direct blackmail of the Prime Minister. The legal and political outcome of this dispute remains to be seen. But Sarajevo's message is clear: Bosnia's defense industry, which is posting record export results, will not be handed over to a company whose track record — according to three senior officials and a letter from Kyiv — is more than questionable.

AdriaDefense.com contacted Regulus Global and Akos Horvat for comment. No response was received prior to publication.

Who is Regulus Global?

Regulus Global LLC is a U.S.-based private defence and logistics company headquartered in Virginia Beach, Virginia. Founded by Will Somerindyke, who serves as Chairman, the company describes itself as specialising in national security, defence procurement, humanitarian missions and expeditionary logistics. The company has no publicly traded shares and limited publicly available financial disclosures.

Forbes also reported that Regulus became embroiled in a dispute over a $1.7 billion contract to sell artillery shells to the Ukrainian government — a dispute currently in arbitration before a London court. The Financial Times has separately noted that Somerindyke has a history of legal disputes with business partners.

In January 2025, Somerindyke stepped down as CEO of Regulus — retaining his role as Chairman — to lead Union, a new Silicon Valley-backed ammunition manufacturing startup. Notably, Regulus is both Union's first customer and an investor in the company, placing Somerindyke on both sides of that business relationship.

Disclaimer: This article relays statements made by public officials and claims reported in domestic and international media (Forbes, Financial Times, FTV and Klix.ba). AdriaDefense.com is not the author of the allegations and does not confirm them as established fact. All qualifications and claims are attributed to their respective sources.

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