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Outokumpu Money-Laundering Trial Begins

The Kymenlaakso district court has started trial proceedings in the case of suspected money-laundering at the Finnish stainless steel manufacturer Outokumpu. Five Outokumpu employees face aggravated money-laundering charges. Prosecutors are pressing for a corporate fine to be imposed on the company.

Image: YLE / Antti Heikinmatti

The corporate fine would run to the tune of 300,000 euros. The prosecution also demands suspended prison sentences for the accused.

In addition to the company and five of its employees, indictments have been raised against two employees of the shipping company Saimaa Lines, a forwarding agent for Outokumpu. They face aggravated charges of falsification of documents.

The prosecution demands that the money involved in the case, which it estimates at nearly 14 million euros, should be confiscated by the state.

Outokumpu is suspected of having circulated Russian money through dozens of shell companies in 2004-2006.

All of the accused deny having committed the crimes.

The trial is expected to conclude in May, with the verdict estimated to be given in June.

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