Harju County Court on Thursday convicted three men of defrauding commercial bank SEB to the tune of 3 million euros.
Kaido Kaljusaar (41) and Andres Lauri (40) were handed five year sentences with three months to be served as real jail time and the rest suspended. Urmas Kuusküll (42) received a slightly lighter sentence.
The defendants were also found guilty of money laundering and falsification. None pled guilty and all plan to appeal to the district court.
The case, which went to trial in April, traces back to 2006, when a 18.5-million-euro loan was taken out from SEB to buy a Tallinn property and build a business and parking complex.