Antonio Koláček appeals Mostecká uhelná fraud conviction

The Prague High Court is set to revisit the case of Antonio Koláček, a former manager of the Mostecká uhelná company. Koláček is appealing a 2023 verdict that found him guilty of fraud related to the privatization of the company in 1998. The prosecution alleges he used offshore structures to secretly control the company using its own funds.

Koláček’s defense team is challenging the evidence linking him to offshore entities on the Isle of Man, specifically a company named Richmond. Defense arguments, supported by analyst Tereza Vašinová, claim there is a lack of a verifiable documentary trail, such as KYC forms, bank records, or authenticated signatures, to prove ownership. Authorities on the Isle of Man have reportedly stated that Koláček’s name does not appear in their records.

Koláček maintains his innocence, stating his intention in 1998 was to stabilize the mining company and protect regional social peace during the economic transition. He has questioned why he was singled out for conviction while other figures involved in the era's privatizations were not.