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Leading Hungarian businessman arrested on suspicion of graft
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Lászl Bige, the owner of artificial fertiliser maker Nitrogénművek, has been placed under criminal supervision on suspicion of bribery and other financial crimes, a Nyíregyháza court said on Thursday.
Nitrogénművek on Wednesday confirmed that Bige had been taken into custody.
Prosecutors, who did not identify Bige by name, said they had taken the chairman and CEO of an agricultural company into custody, the Nyíregyháza District Court noted in a statement. It said the individual was suspected of instructing his company to falsely declare a part of its output below standard and sell it to retailers at a discounted price, who would then re-sell it at or near market price.
Prosecutors also allege that the suspect had agreed with one of the retailers that he would be paid back the difference in the sales price in cash, allowing the suspect to pocket more than 800 million forints (EUR 2.2m) between 2011 and 2016. The scheme is believed to have cost the company 2 billion forints.
Whenever I point out a bad error in the english that has been used, my comment is not published. Fair enough, but the error could at least be corrected. The whole point of publishing articles is for them to be understood by the readership, one would think.