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US court fines Croat pensioner $5.72 million for stock fraud

Croatian Times

Federal Judge Kimba Wood has confirmed the New York Federal Court’s ruling that a retired seamstress in Croatia must pay a fine of 5.72 US million dollars for stock fraud.

Sonja Anticevic from the southern town of Omis was reportedly involved in the "Reebok" fraud in 2005. She is suspected of having earned more than one million Euros from shares in Reebok by using inside information she got from a relative in the USA.

The judge issued his ruling despite a letter in which her attorney Ante Madunic claimed she was innocent.

The daily Slobodna Dalmacija has reported Judge Wood claimed the letter had arrived too late, adding it was written in August but sent in December 2009 after the New York Federal Court had issued its ruling.

Anticevic refused to appear in court in the USA. She had earlier claimed she had no knowledge of share trading and that all her brokerage accounts had been opened by her relative David Pajcin.




Tag cloud letter  Reebok  Wood  issued  fines  trading  brokerage  Croat  stock  Ante  Slobodna  York  fraud  Court  attorney  Anticevic  Pajcin  court  relative  Madunic


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