Banker jailed for 5 years in Telekom Austria case - APA
VIENNA, April 5
VIENNA, April 5 (Reuters) - A banker found guilty of manipulating Telekom Austria's share price to trigger bonuses for former managers at the company was handed a five-year jail term on Friday, Austria's national press agency APA reported.
Prosecutors said Johann Wanovits accepted hundreds of thousands of euros in cash delivered in paper bags in exchange for buying Telekom Austria shares to push the price up and activate an incentive scheme worth 9 million euros ($12 million), APA said.
The ex-managers were sentenced in February to terms of between three and three and a half years. A fourth defendant was acquitted.
The judge in Vienna's top criminal court said on Friday that Wanovits had failed to acknowledge any wrongdoing during his trial, APA reported.
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