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Former bank managers reject fraud charges

EX-MANGERS of the country's second-largest bank, Vseobecná úverová banka (VÚB), insisted that they were innocent of the fraud charges laid against them early November, TASR news wire reported.

Ten people were charged with fleecing VÚB of Sk2.2 billion (€53.46 million), when the bank was held by the state in the mid 1990s.

The alleged fraud involved the payment of bad loans to the company Konsult Real, of which three of the accused VÚB directors were board members. Four of the accused are from the company.

One of the accused, Ladislav Vaškovič, defended the legality of the lending. "Konsult Real was fully owned by VÚB, so these were only transfers within the group and no damage was done to VÚB.”

"Konsult Real used the money to acquire share capital in VÚB, which means the money is in VÚB," the former manager said.

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

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