26.06.2008 - Czech court acquits four men of million-crown fraud charges
The men were accused of inflicting the damage worth hundreds of millions of Police initiate charges against Czech-Afghan chamber head ...
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Previously, the Hradec Kralove court sentenced the men to 4 to 6.5 years in prison, but the High Court returned the case for further proceedings.
According to the state attorney, the men caused the company the damage worth 250 million crowns through secret and simulated transactions and attempted to embezzle another 400 million crowns from it.
The defendants gave no evidence in the court but their defence lawyers proposed to acquit them of the charges pointing out that the transactions were part of the managers' tax optimisation scheme and that no damage had been caused to Rubena.
The defence lawyers also stressed that it was not proved that the former managers had enriched themselves in any way.
Martin Koloc, former Czech car racer now internationally wanted on suspicion of fraud, who hides in the Seychelles, also features in the case.
Koloc is suspected of having illegally drawn over 120 million crowns from Rubena through fictitious contracts.
($1=15.430 Czech crowns)
(Ceske Noviny)
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