Majský charged over financial shenanigans

POLICE have charged financier Jozef Majský and two of his sons with injuring creditors by failing to repay an over Sk400 million ($9 million) debt to the FNM privatisation agency arising from the 1993 purchase of state firm VAB Banovce nad Bebravou by Majský's Sipox Holding firm.

Instead of repaying the money, police allege, Majský transferred Sk426 million from Sipox to Istrokommerz, apparently to put it beyond the reach of bailiffs. While Majský Sr. is on holiday in Africa, and has said he will not interrupt his vacation to face the charges, son Jozef Majský Jr. has denied any wrongdoing.

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