NEWS BRIEFS

Tycoon Majský and others charged

CHARGES have been laid against three men for their alleged leading role in the collapse of unlicensed investment companies Horizont Slovakia and BMG Invest in February 2002.

Jozef Majský, believed to be the richest person in Slovakia, Dávid Brtva and Patrik Pachinger, have been charged with fraud and establishing a criminal group, the Special Prosecutor's Office told the TASR news agency November 5.

If convicted, they face 15 years in prison and a fine of up to Sk5 million (€125,000).

The collapse of Horizont and BMG in February 2002 triggered the demise of several simillar companies that had been promising huge returns on deposits.

Horizont and BMG together secured around 170,000 clients over five years, collecting a total Sk16.8 billion (€419 million).

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