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Austria:Kommunalkredit Managers Accused of Breach of Trust
Politics ♦
Published: November 22, 2013; 15:14 ♦ (Vindobona)
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Four former managers of nationalized Kommunalkredit (KA) are accused of breach of trust and violating the Stock Corporation Act by the Public Prosecutor's Office against Economy and Corruption (WKStA) at the Regional Court in Vienna.
Austria:Kommunalkredit Managers Accused of Breach of Trust / Picture: © Kommunalkredit
The penalty range goes from one to ten years imprisonment. Two former members of the bank’s supervisory board and two executive staff members are accused of breach of trust and violating the Stock Corporation Act in the run-up to the nationalization. However, the WKStA did not disclose details about who these persons are. The judgements are not yet final. Moreover, the proceedings…
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