A Swiss court has rejected the Czech bid to become part of the court case against former managers of mining company MUS who are believed to illegally taken over the company and syphoned off billions of crowns into Swiss bank accounts. The court, according to Swiss newspaper reports, slammed Czechs for their late application — and shoddy treatment of Swiss authorities as they tried to compile their case.
A legal analysis of the possible results of the criminal proceedings launched by the Swiss federal prosecutor over Czech miner MUS was sent to Czech Position from an address bearing the name of the current owner of the re-named Czech Coal. It suggests that when the MUS verdicts are given, the massive company might be confiscated and returned to the state.
The Swiss investigation into alleged corruption during the privatization of Czech mining firm Mostecké uhelné společnost (MUS) has dominated the front pages of the Czech dailies in recent weeks. But most media have presented a fairytale according to which billions of crowns are waiting in Switzerland to be collected by the Czech government with the High Public Prosecutor’s Office in Prague interfering.
Czechs have been shamed by the way in which the Swiss federal prosecutor is now getting to grips with the suspect privatization scam surrounding coal miner MUS (now Czech Coal) while their Czech counterparts seemed to stand by. Czech Position has obtained documents tracing how the state holding company, the FNM, got wind of the MUS tunneling and management takeover but failed to stop it.
The stand-in head of the Prague supreme state prosecutor’s office, Stanislav Mečl, has carried out more changes within the office as a result of the slack way it handed investigations into the privatization of mining company Mostecká uhelná společnost (MUS) and repeated Swiss demands for cooperation over the case.
Swiss detectives probing the MUS case have discovered that after its purchase of Czech engineering giant Škoda Plzeň, the controversial Appian Group transferred a staggering Kč 150 million in “consultation fees” to a Virgin Islands shell company — which in turn sent it on to firms connected to reputed Czech mobsters and a consulting firm that was advising the Czech state on the Škoda Plzeň sale.
The Czech Ministry of Finance issued a press release on Monday denying responsibility for failure to register as the plaintiff on behalf of the Czech state, or injured party, in the Swiss investigation case into suspected money laundering and fraud surrounding the privatization of the coal mining company Mostecká uhelná společnost (MUS), now Czech Coal, in 1999.
Six Czechs and a Belgian face money laundering and other criminal charges in connection with the 1999 privatization of Czech mining company Mostecké uhelné společnosti (MUS). The Swiss federal prosecutor’s office, following five years of investigations, says top managers may have syphoned off company cash allowing themselves to take control of MUS while depositing funds in Swiss accounts.
Czech police tasked with uncovering corruption and financial crime say that they are sifting material concerning former ČEZ CEO Martin Roman and his former employer, engineering giant Škoda Holding. Police say some of the material is new and some dates back to the resurrected investigation into Appian Group's purchase of the engineering company and miner Mostecká uhelná společnost (MUS).