The Czech Public Prosecutor’s Office has announced the settlement of a prosecution relating to allegations of the indirect export of 7 items of mining machinery to Russia.
The company, Ferrit Ltd, has agreed to pay €1,058,635 as assistance towards the victims of crime as part of the settlement, alongside a probationary period of 12 months.
Originally six senior managers were also included in the investigation. The settlement included plea agreements with four of the managers with fines ranging from 150,000 to 500,000 crowns (€6,100 to €20,500). These pleas are subject to a requirement for court approval. The prosecutions of the other two managers were discontinued.
The case is the first instance of the Czech authorities using their new non-prosecution style powers.