BMG bosses charged

Three top representatives of failed savings-and-loan fund BMG have been charged with fraud and illegal business activities, with police saying the firm caused at least Sk16 billion ($330 million) in damages to 170,000 clients. According to the daily paper Sme, the three men – Vladimír Fruni, František Matík and Marián Sebeščák – are in Croatia. Top police sources say blame in the affair rests with the financial crimes police corps, which did not do enough to investigate the business doings of BMG and mother firm Horizont. Police are also investigating a leak that allowed BMG owners to shut their doors and flee the country one day before charges were laid.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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