J&T under police microscope

Police are investigating the role of the J&T financial group in the asset stripping of wiring producer Drotovna Hlohovec in 1996, in which a suspicious bond issue allegedly cost the firm Sk278 million ($7 million).

The Sk500 million Drotovna bonds were bought by the IRB state bank, which at the time was headed by Jozef Tkáč, father of J&T founder Patrik Tkáč.

Police suspect that the money gained was not invested in Drotovna, as intended, but was passed to two of Drotovna's daughter firms, controlled by J&T, which eventually took control of Drotovna from other shareholders.

J&T has rejected the theory, and has said the investigation will allow the firm to clear its name.

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

Top stories

News digest: Schools across Slovakia are closing

Problems with regional buses in Bratislava persist. Meteorologists issue warnings against snow for Tuesday and Wednesday.

2 h
Illustrative stock photo

Regional hygienists starting to close schools

Schools in 11 districts have switched to remote learning so far.

3 h
Miroslava Sotáková

The great thing about Slovakia is the lack of crowds, says Slovak living in New York

Miroslava Sotáková works for Google and is bringing up three kids in New York.

12 h
Online shopping, illustrative stock photo.

Online scams spiked during Black Friday

Experts recommend double-checking discounts.

29. nov
Skryť Close ad