Martin Shenar fined for large-scale tax evasion in Czech Republic

The Prague Municipal Court has sentenced Martin Shenar, former chairman of Amun. Re, to a fine of 7.2 million CZK for extensive tax evasion. The case involves the sale of three solar energy companies to ČEZ in 2009 for 515 million CZK.

According to the indictment, Shenar failed to pay income tax on the transaction, resulting in a loss of 76 million CZK to the state during 2010 and 2011. This verdict comes after a lengthy seven-year legal process; the court had previously acquitted Shenar four times before the Prague High Court ordered a new trial.

Judge Tom Frankič noted that the sentence was limited to a fine due to the significant time elapsed since the offense. However, if the fine is not paid, Shenar faces three years in prison. Shenar has denied all wrongdoing and has appealed the verdict.