Kouvola Court of Appeal in Finland has dismissed all charges pressed against Outokumpu and three of its employees for alleged money laundering in connection with export practices to Russia during 2004-2006.
Corporate General counsel Kimmo Karihtala: "We are very pleased that also the Court of Appeal has now given its verdict. This has been a long process which has required a lot of company resources during many years. The case has been particularly difficult for the people under suspicion and their families."
In March 2007, Finnish Customs authorities initiated a criminal investigation into the Group's Tornio Works' export practices to Russia. The process of considering possible charges was completed in November 2010. The case was taken to court in March 2011 as charges were pressed against Outokumpu and five of its employees. The District Court of Kymenlaakso dismissed all the claims of the prosecutor in its verdict handed down on 22 June 2011. The prosecutor appealed against the verdict related to Outokumpu and three of its employees. The Kouvola Court of Appeal dismissed all charges by the prosecutor in its verdict on 14 April 2012.
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