Court hands sentences in fraudulent building company H-System

A court in Prague on Monday sentenced two managers of the fraudulent building company H-System to nine and eight years in jail, respectively. The men were convicted of taking part in multi-billion crown fraud. In the early 1990s, their company promised new apartments and took advance payments from its clients; by 1997, however, the company went bankrupt and more than 1,000 of its clients lost their money. Monday’s ruling was the final verdict in the case; in 2002, the man who masterminded the fraud was sentenced to 12 years in jail.

Author: Jan Richter