May 26th, 2014

MOL’s Hernadi acquitted by Budapest court

A Budapest court dropped the case against Zsolt Hernadi, president-CEO of Hungarian oil and gas company MOL, concerning international bribery and in a non-final ruling acquitted him of causing major financial damages.

After the meeting Hernadi told journalists that there had been “collateral damage” as far as his case was concerned following the accusation that he had bribed the former Croatian premier Ivo Sanader in order to secure the management rights over INA. The fabrication of bribery against MOL and the past three years were too long for him to now have any satisfaction over today’s ruling, he added.

The case was pursued by a private individual, a MOL shareholder and also a former MOL employee, against Hernadi in person after a claim submitted to the Hungarian state prosecution was rejected. MOL was not a party to the lawsuit.

The plaintiff charged Hernadi with international bribery and fraud causing significant financial damages. She claimed to have lost 28 million forints (EUR 92,500) on MOL stock market fall after the publication of allegations that MOL had acquired a stake and management rights in Croatian peer INA through bribery. The plaintiff claimed that her loss on MOL shares was caused by alleged improper and unlawful action in connection with MOL’s acquisition of management rights over INA.

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  • MagyarViking

    Yet another totally uninteresting ruling, that has nothing to do with the actual criminal case in Croatia, which Fidesz is protecting one of its oligarchs from being prosecuted there
    * Extradite Hernadi to Croatia!

    • Justanobservation

      This ruling is no surprise, and Hungary will not extradite him, I guarantee it. He is one of their mafia brothers, why would they want him to face responsibility in Croatia?

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