Court decision acquitting MOL President-CEO final

Budapest (MTI) – A Budapest appeals court on Wednesday confirmed, with minor modifications, a decision to acquit president and chief executive of Hungarian oil and gas company MOL, Zsolt Hernadi.

According to the final ruling, Hernadi is acquitted of the charges of embezzlement and other criminal acts.

The plaintiff in the case, a MOL shareholder and a former MOL employee, sued Hernadi for financial damages. She claimed to have lost 24 million forints (EUR 78,500) on a drop in MOL’s share price after the publication of allegations that Hernadi had bribed former Croatian prime minister Ivo Sanader to acquire management rights in Croatian oil and gas company INA.

MOL was not a party to the lawsuit.

Photo: MTI – Balazs Mohai

Source: http://mtva.hu/hu/hungary-matters