The Croatian Financial Services Supervisory Agency (HANFA) has filed a criminal complaint with the State Prosecutor's Office against responsible persons in the Croatian oil company INA and Hungary's MOL over unlawful dealing with insider information, in contravention of the Capital Market Act.
Croatian Radio and Television reported last night the complaint was filed against INA management board chairman Zoltan Aldott and MOL management board chairman Zsolt Hernadi.
This is HANFA's second criminal complaint against MOL's leaders. The first, against the company and responsible persons in it, was filed in May over market manipulation and fraud.
HANFA suspended trading in INA shares on the Zagreb Stock Exchange on April 28, claiming that MOL was manipulating the market by sending out wrong signals about the purchase of INA stock.
The suspension was extended on July 29, when HANFA ordered INA to carry out within 45 days a number of orders regarding the amendment and/or adoption of new internal acts regulating insider information, organisational changes, and the establishment of a supervision system. HANFA announced on that occasion that, given the irregularities noted, it would file complaints with relevant judicial bodies.
It is unknown when the suspension on trading in INA shares will be lifted. According to some media, it could happen soon.
