Controversial businessman admits guilt for fraud

Entrepreneur Ladislav Bašternák has admitted guilt and stated that he regrets his actions at his hearing at Bratislava II District Court on Wednesday, where he faced charges of VAT and insurance fraud. The case relates to VAT refunds, valued at almost €2 million, to his company BL 202 in connection with the purchase of 12 apartments in the Five Star Residence apartment complex. "The purpose of transfer of the apartments was only to gain a tax advantage. The result was a reported VAT excess amounting to almost €2 million," stated the prosecutor. Bašternák refused to answer questions to the media. "You can ask him questions; you will not get answers. We are not at a press conference, even if it looks like it, and it's not pleasant," his lawyer, Peter Filip, told journalists. The court found the accused guilty of tax evasion, more precisely for not paying tax and insurance, with him being sentenced to five years in a minimum security prison.