The Public Prosecutor’s Office in Klagenfurt has filed an indictment against the former CEO of the Carinthian Hypo Alpe Adria Bank, Wolfgang Kulterer, announced on Thursday by the spokesperson for the office, Helmut Jamnig.
Kulterer, along with two other individuals, is accused of embezzlement, and the indictment also charges him with giving false testimony before the investigative committee of the Carinthian parliament. The embezzlement charges relate to two cases of loan approvals. The first case involves a loan of two million euros to the airline Styrian Spirit, which later went bankrupt, and the second concerns a loan of 150,000 euros to a private detective.
According to judicial experts, the indictment is just the beginning of the judicial proceedings in the Kulterer case, as the Austrian Public Prosecutor’s Office is conducting an investigation against him for, as stated, "numerous other serious charges." In Austria, embezzlement carries a prison sentence of one to ten years if the damage caused by the embezzlement exceeds 50,000 euros. The indictment against Kulterer involves an amount of 2.15 million euros. (www.nacional.hr)
