Czech police accuse five people over credit for China project


04.08.2014 14:37

Prague - The Czech anti-corruption police have accused five people over approval of a Czech Export Bank (CEB) credit for a business project in China, allegedly inflicting a damage of 221 million crowns on the Czech Republic, the High State Attorney´s Office in Prague said on its web page today.


Počítačka bankovek, peníze, banka - ilustrační foto. ČTK ČTK

They have been accused of breach of trust and insider trading.

State attorney qualified the crimes according to the old Penal Code, which means that they were committed before January 1, 2010.

The accused persons face two to eight years in prison if found guilty.

In May, the High State Attorney´s Office provided information on another accusation made in connection with a CEB credit for the construction of luxury apartments in Tunisia.

Two people have been accused of fraud which they allegedly committed when they lured a loan worth 308 million crowns from the bank.

A third person was accused of breach of trust and insider trading because he allegedly did not act cautiously when providing the credit.

Media wrote then that the police are checking other CEB-financed projects.

($1= 20.635 crowns)

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