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A-TEC chief executive to face charges of fraudulent bankruptcy


Published : Tue, 17 Jul 2007 14:46
By : Agencies
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VIENNA (Thomson Financial) - The chief executive and primary shareholder of A-TEC Industries AG, Mirko Kovats, will face trial on charges of fraudulent bankruptcy in September in relation to some of his previous business dealings, the Austrian press agency APA reported.

The spokesperson for Vienna's public prosecutor's office, Gerhard Jarosch, told APA that Kovats and two others are accused of inaccurately representing the assets of a company and then intentionally sending it into bankruptcy, causing the company's creditors more than 230,000 eur in damages.

The highest possible sentence in the event of a guilty verdict is 10 years, APA reported.

No comment was immediately available from a spokesperson for Kovats.

peter.klopf@thomson.com

pkl/am

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