Croatian court convicts Mol CEO of bribery in battle for Ina oil
A Croatian court convicted the head of Hungary’s biggest energy group on bribery charges relating to the acquisition of the Balkan nation’s oil company, complicating what’s been one of eastern Europe’s most intractable cross-border corporate conflicts of the past decade.
BY VERONIKA GULYAS, MISHA SAVIC & JASMINA KUZMANOVIC, BLOOMBERG
A court in Zagreb on Monday sentenced Zsolt Hernadi, the chairman and chief executive of Hungarian oil and gas company Mol Nyrt., to two years in prison for the offense related to the obtaining of management rights of Ina Industrija Nafte DD in 2009, according to N1 TV in Croatia. Mol reiterated its denial of wrongdoing, saying it will defend itself and continues to stand by Hernadi.
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