Former managers of investment funds found guilty of embezzlement

The Hradec Králové regional court on Tuesday handed six former managers of the investment funds Trend and Mercia prison sentences of two to three years. The executives were charged with embezzling funds of over 1.4 million crowns. The case is considered one of the biggest embezzlement cases in the Czech Republic. This is the second time that the managers had to appear at court, after the Prague High Court cancelled its original verdict from last August. New proceedings started in October. One of the witnesses and original investors in the fund is the Czech Minister for Human Rights and Minorities Michael Kocáb

Author: Sarah Borufka