The Specialised Criminal Court in Pezinok on Tuesday, May 3, sentenced the former boss of non-banking company Drukos, František Mojžiš, to eight and a half years in prison. In its verdict the court convicted him of accepting in Sk237.7 million (€7.89 million) from 1,367 clients of Drukos, and Sk3.729 billion (€123.78 million) from 23,823 members of the BVD co-operative association between 1999 and 2002.
The court concluded that Mojžiš abused people's trust, their lack of experience and, moreover, he used deceptive advertising in which Drukos promised interest rates of 15-31 percent. The court determined that Mojžiš knew in advance that he wouldn't be able to fulfil the ensuing financial obligations, the TASR newswire wrote. Mojžiš, 53, who was using the money to underwrite business ventures such as Drukos Leasing, said in his defence that he would have met his obligations if the state had not intervened. He has appealed the verdict, so the case is now due to go to the Supreme Court.
Source: TASR
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
4. May 2011 at 10:00
