Croatia's highest court upholds Hernádi conviction
The Supreme Court of Croatia has upheld the convictions on charges of graft of Ivo Sanader, Croatia's former prime minister, and Zsolt Hernádi, the chairman-CEO of Hungarian oil and gas company MOL, Croatian daily Jutarnji List said on Monday, according to a report by state news wire MTI.
The court rejected the appeals of Sanader and Hernádi in the combined case and upheld the first-instance ruling sentencing Sanader to six years and Hernádi to two years in prison. The court also rejected a motion filed by Croatia's chief prosecutor for harsher penalties.
Hernádi was charged in absentia with bribing Sanader, while prime minister, a decade earlier to give MOL management rights in Croatian peer INA.
The MOL head was earlier acquitted of the charge by the Hungarian judiciary.
The company holds just under half of INA's shares but exercises management rights in the company. MOL has long been at odds with the Croatian government, the other big stakeholder in INA, over investments at the company. The Croatian government has said it is interested in buying out MOL from INA.
In a statement issued on Monday, MOL voiced disappointment with the court's decision. The company noted that Hungarian authorities as well as an international arbitration court earlier established that neither MOL nor its executives had committed any crime.
Because of "serious injustices" experienced in the course of Croatian procedures, Hernádi will appeal to Croatia's Constitutional Court, MOL said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.