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Case Continues on Outokumpu Export Practices to Russia
08/29/2011 - Outokumpu reports that the State prosecutor has appealed against the recent District Court verdict that dismissed all charges pressed against Outokumpu and five of its employees for alleged money laundering.
Outokumpu reports that the State prosecutor has appealed against the recent District Court verdict that dismissed all charges pressed against Outokumpu and five of its employees for alleged money laundering. The Finnish State was ordered to pay a total of EUR 1.2 million in compensation.
"We are disappointed in the prosecutor's decision,” said Corporate General Counsel Matti Louhija. “The matter was thoroughly handled in spring 2011 at the District Court of Kouvola where all charges by the prosecutor were dismissed. The outcome of the trial was in our view unambiguous."
The court proceedings regarding Outokumpu's export practices to Russia follow criminal investigation into the Group's Tornio Works' export practices to Russia. The case was taken to court in March 2011 as charges were pressed for alleged money laundering. On behalf of the state, the prosecutor also presented a claim for forfeiture of the funds subject to money laundering. That claim was dropped by the prosecutor during the court proceedings, and the Court dismissed the rest of the claims in their judgment, which was handed down on June 22, 2011.
Outokumpu is a global leader in stainless steel with the vision to be the undisputed number one. Customers in a wide range of industries use our stainless steel and services worldwide. Outokumpu employs some 8000 people in more than 30 countries, and its head office is located in Espoo, Finland.
