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Prague High Court Upholds Kozeny Conviction, Sentence, CTK Says

Oct. 17 (Bloomberg) -- The Prague appeal court upheld a 2010 conviction, with a 10-year prison sentence, for Viktor Kozeny, a Czech-born businessman who is wanted for bribery by the U.S., CTK reported.

The court lowered the same sentence for Kozeny’s business partner Boris Vostry to nine years, CTK said.

Kozeny and Vostry were sentenced in absentia in 2010 for causing 16 billion koruna ($845 million) in losses and damage to Harvard Industrial Holding, the Czech mutual fund created in the 1990s to buy shares in state companies that were being sold to the public, CTK added.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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