The court case against Michael Koelmel concluded thismorning (July 22), with the Kinowelt co-founder receiving a suspended sentenceof one year and ten months from Munich's District Court.
The courtaccepted four counts of embezzlement and the claim that Koelmel wilfullydelayed the filing of insolvency. However, Koelmel was cleared of fraud.
In addition to the sentence, the court imposed a fine ofEuros 126,000 and obliged him to pay another Euros 200,000 to charitableinstitutions.
The case against Koelmel opened in mid-April. He faced 15 charges of breach of trust, fraud and obstructing insolvencyproceedings in connection with the German producer/distributor's bankruptcy in2001. Prosecutors had called for a nine year prison sentence.