Finland-based stainless steel producer Outokumpu has announced that the District Court of Kymenlaakso in Kouvola, Finland has dismissed all charges against Outokumpu and five of its employees for alleged money laundering in connection with export practices to Russia during 2004-2006.
The legal process regarding the possible charges including unlawful export practices to Russia started in March 2007 and the public prosecutor decided that the charges were groundless in November 2010. However, the case was taken to court based on the charges pressed against Outokumpu and five of its employees for money laundering in March 2011. The court dismissed the rest of the claims with its ruling made on June 22.
The Finnish state was ordered to pay a total of €1.2 million in compensation.