Hungarian National Investigation Office Calls For Indictments In MVM Case
- 13 Aug 2012 9:00 AM
The national investigation office NNI has recommended indictments for prosecutors after completing its investigation into the business operations of the state electricity works MVM during 2006-08. The NNI had recommended indictments in April but prosecutors ordered the agency to obtain further evidence.
The NNI now suggests that charges be filed against seven suspects concerning mismanagement of funds by a criminal organisation.
They include MVM’s ex-CEO Istvan Kocsis, former head of the Paks nuclear power plant Jozsef Kovacs, the plant’s former personnel director Laszlo Varga-Sabjan, former Socialist MP Laszlo Kapolyi and offshore company owner Andras Szasz.
According to the NNI, the suspects bought property at inflated prices, engaged consultants unnecessarily, and took out loans without the resources to repay them, costing MVM Ft 15 billion in losses.
Source: Hungary Around the Clock
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