20 November 2012 12:14 [Source: ICIS news]
LONDON (ICIS)--MOL continues to categorically reject claims of corruption involving Ivo Sanader after a court sentenced the former Croatian prime minister to a 10-year prison term for taking bribes from it and one other company, the Hungarian oil, gas and petrochemical group said on Tuesday.
A Zagreb county court found Sanader guilty of taking a €10m ($12.8m) bribe between 2008 and 2009 from a “highly positioned” MOL manager in return for arranging the transfer of management rights over state refiner INA to MOL.
Sanader was also found guilty of taking a bribe from Austria’s Hypo Alpe-Adria-Bank International, in relation to a Croatian government loan, when he served as deputy foreign minister during 1994 and 1995.
MOL said: “We consider this case to be less about the companies that have been named, and more as a political matter within Croatia. We do believe that you cannot convict someone if there is no motive, crime or evidence. Namely, no special reason was necessary for MOL, as the largest single shareholder [in INA] to take over control of a company which needed to be saved from a technical bankruptcy.”
It added: “This is an initial, preliminary ruling; we have many times rejected categorically the accusations made against MOL and we will continue to do so.”
Sanader denied all wrongdoing, claiming the trial was politically motivated.
($1 = €0.78)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections