Officials charged over OKD privatization acquitted

A Prague court has acquitted three people charged in connection with the privatization of the coal mining company OKD which was sold under what is perceived as highly disadvantageous conditions to the group Karbon Invest in 2004.

Valuation expert Rudolf Doucha, who produced a price assessment of the assets and Pavel Kuta nd Jan Škurek from the National Property Fund who were in charge of the firm’s privatization were acquitted on the grounds that their actions did not constitute a criminal offense.

According to the state attorney Doucha’s price assessment of the company’s assets was grossly distorted since it failed to include the assets of daughter companies and other properties, such as the 40,000 company flats owned by OKD.