News site: Police investigating financial operations at OKD

The police are looking into the financial operations of the mining company OKD, which was declared bankrupt this week. Neovlivní.cz reported on Wednesday that officers were investigating whether hundreds of millions of crowns had been illegally taken out of the firm. An unnamed source told the news website there were suspicions that OKD managers and owners had not acted with due diligence in a number of transactions. The mining company, which has debts of over CZK 17 billion, employs around 10,000 people.

Author: Ian Willoughby