Some might think that hand-greasing has been going on as the former owner of non-banking financial companies BMG Invest and Horizont Slovakia, Vladimír Fruni, has been conditionally released from prison on parole and had two and a half years cut off his sentence.
Fruni’s companies gave naive investors the promise of huge returns on their savings, amassing over EUR 2 billion in five years only to slip into bankruptcy, leaving some 170,000 people out of pocket. Fruni was sentenced to 11.5 years in jail for fraud back in January 2007, with the verdict subsequently being affirmed by the Supreme Court.
In January 2010 Fruni appealed for parole and the District Court in Trencin agreed, but the Regional Court stepped in and revoked the decision. Fruni applied for it two more times, but had his requests rejected both times.
Now the District Court of Trencin has confirmed that Fruni was released on Wednesday to serve the remaining five years on parole, after it was reduced by 2.5 years.