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BUSINESS BRIEFS

BMG bosses charged with fraud

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. Two of the men - Vladimír Fruni and Marián Šebeščák - were arrested in Croatia last week and are in pre-trial custody. Two yachts and two luxury cars were also impounded. 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.

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