Directors of “Magyar Telekom” fined for bribing Macedonian politicians


Former directors of “Magyar Telekom” Elek Straub and Andras Balogh have agreed to pay fines and have also received a five-year ban on working as directors or employees of all joint stock companies, announced today the US Committee for Securities and Exchange, reports portal “Nova”. Straub has been fined $ 250,000 and Balogh $ 150,000.

“The Directors of “Magyar Telekom” were accused of having secret agreements with the prime minister and other people from Macedonia to prevent competition in the market”, said Stephanie Avakian, the Executive Director of the Investigation Commission on Securities.

She said that in February, the third director made an agreement with the court and paid a fine of $ 60,000, which he confessed to, as well as falsifying the books of the company in connection with the scheme for paying bribes to Macedonian politicians.

Earlier, in the first process in the District Court in New York in December 2011, the company “Magyar Telekom” paid a fine of 95 million dollars.

However, the Court did not keep to this agreement and initiated proceedings against the directors of the company as co-conspirators in this case, and the former head of UBK Slobodan Bogoevski testifies against them as a witness.

In his testimony before the District Court in New York, Bogoevski claimed that former directors of “Magyar Telekom” gave the Prime Minister at the time, Vlado Buckovski a 2.5 million euro bribe and representatives of DUI, such as Ali Ahmeti and Musa Xhaferi so none else could enter into telecommunications in Macedonia.

In January, Bogoevski claimed that by May the 7th, in New York the outcome of the trial should be known and that the US authorities or the Commission for Securities and Exchange of the United States, are charging three former executives of “Magyar Telekom” and the witness in the case is the former director of UBK himself.

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