Prison Sentences for TJ Group Owners
The Supreme Court Thursday handed down stiff prison sentences to the former top managers of the TJ Group.
The two, former CEO Jyrki Salminen and former chairman of the board, Tuomo Tilman, were convicted of insider trading and falsifying stock market reports by a lower court in 2007. At that time, the two were given suspended sentences of two years.
The Supreme Court on Thursday sentenced the two men to two years and four months in prison. They have also been ordered to pay the state close to 7.8 million euros that they gained through fraudulent business practices.
The court said the tougher sentences were because of the systematic nature of their crimes, the violation of the trust that had been placed in them, the size of the illicit profits and that their crimes had seriously endangered confidence in the stock market.
The IT sector company TJ Group was also ordered to pay a 100,000 euro fine.
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