Appeal court begins hearing in Most Coal Company managers case, billions at stake
Prague High Court is reviewing appeals in the MUS privatisation case. Koláček and Klimecký face up to 7.5 years' imprisonment and damages of 2.37 billion crowns.
High Court in Prague opens appeal proceedings in MUS case
According to ceskenoviny.cz, the long-running criminal case involving the privatisation of the Most Coal Company (MUS) has entered a new phase — Prague High Court has begun examining appeals filed against the previous verdict.
The non-final judgment imposed sentences of 7.5 and six years' imprisonment on former managers of the mining company, Antonio Koláček and Oldřích Klimecký, for fraud and abuse of position. The court also banned them from holding positions in company management, ordered the confiscation of seized hundreds of millions of crowns, and made them liable for damages to the state assessed at 2.37 billion crowns. Both men deny the charges.
The prosecution alleges that the managers secretly controlled the company before its sale — they siphoned money from it under the pretext of investment abroad. They then allegedly waited until the share price fell, and bought the Czech state's stake from the state at a significantly lower price. The state's sale of its MUS stake was unanimously approved by the government of Miloš Zeman in 1999.
Koláček insists that they restructured and stabilised the company. According to him, the state knew whom it was selling its stake to, or did not care because it wanted to be rid of it. The manager is also now challenging the credibility of some evidence.
A total of 14 people or companies have filed appeals. In addition to Koláček, Klimecký and a third defendant — former deputy industry minister Robert Sýkora — the state prosecutor has also lodged an appeal, as has Czech Coal Services Ltd as the injured party and nine other interested parties.
The High Court is currently scheduling eight hearing days. The non-final verdict was delivered three years ago. Sixty-seven-year-old Koláček has repeatedly criticised the length of the proceedings and, unlike eighty-six-year-old Klimecký, has personally attended the main trial hearings.
Source: Google News CZ — Crime (cs)