The prosecutor considers that Kallio hid his assets or gave otherwise misleading information in order to succeed in putting his assets beyond the reach of his creditors and the foreclosure.
The prosecutor demands a former track motorcyclist Mika Kallio punishment for economic crimes. The proceedings of the case started in Pirkanmaa district court today.
According to the prosecutor, in 2015 Kallio has intentionally disposed of or otherwise given away his property in such a way that he himself caused himself to become insolvent or otherwise essentially worsened his own insolvency. In addition, the prosecutor considers that Kallio hid his assets or gave otherwise misleading information during the foreclosure investigation in the spring of 2017, so that he could succeed in putting his assets beyond the reach of his creditors and the foreclosure.
The prosecutor considers that the crimes have been aimed at considerable financial gain and that they must be considered gross when assessed as a whole. The prosecutor demands a total prison sentence of more than two years for Kallio.
Prosecutor: The company’s stock was sold for eight euros
According to the prosecutor’s subpoena application, Kallio lent his own funds to the company he owned in such a way that in the company’s accounting in 2015 it is stated that the company owes Kallio a generous 522,000 euros and a capital loan of 250,000 euros, i.e. a total of approximately 772,000 euros. The company’s other debts have been around 1.14 million euros, in addition to which the company has owned a property in Valkeakoski worth around one million euros.
According to the prosecutor, the crime was committed in 2015 when Kallio sold the company’s stock to an Estonian company represented by another person for a total purchase price of eight euros.
– The stock transaction must be considered, taking into account the tax declaration value of the property owned by the company and the company’s debts to others than Kallio himself, more than 675,000 euros underpriced, writes the prosecutor in the subpoena application.
After the sale, over 926,000 euros of Kallio’s personal tax debts came under foreclosure.
According to the prosecutor, after the foreclosure investigation, Kallio has specified his declaration so that before the share purchase with the Estonian company, he would have transferred part of his investment activities to the Belizean company.
The prosecutor considers that it has been a fake legal act or an artificial arrangement, with which Kallio has tried to keep his assets out of the reach of creditors and foreclosure.
Mika Kallio is the most successful Finnish track motorcycle rider in recent years. The Valkeakoski native has achieved three World Championship silvers and one World Championship bronze.