Bankrupt Finnish airline management alleged of accounting offenses, dishonesty

Finnish police accused the entire board of directors and CEO of Air Finland of aggravated accounting offenses and aggravated debtor dishonesty, after two years of investigations, reported Finnish national broadcaster Yle on Thursday.

The six suspects were charged with aggravated accounting offenses as they were accused to have tried to conceal the company's bleak financial situation through deliberately falsifying rental costs.

They were also suspected of having withdrawn a total of 4.8 million euros (about 5.4 million U.S. dollars) from the company's bank accounts before its bankruptcy, reported Yle.

Air Finland used to operate chartered and scheduled flights to holiday destinations in six countries including Finland, Cyprus, Greece, Spain, the United Arab Emirates and Turkey.

Due to constant operating losses, the company was filed for bankruptcy in June, 2012.

After the airline declared insolvency in 2012, the trustee who was responsible for managing the bankruptcy procedures found something wrong and asked the police to intervene. Endit