Slovak IT Company Stock Plunges After Co-Founder Charged in Massive Product Counterfeiting Scandal
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The co-founder of a leading Slovak information technology company faces up to 30 years in prison following charges related to a major counterfeiting operation. The scandal involved employees removing authentic product labels and packaging fake products in genuine boxes, deceiving customers with counterfeit goods sold as legitimate items. The revelation of the fraudulent scheme has caused significant damage to the company's stock value, with shares losing substantial value as investors react to the criminal charges and reputational damage to what was previously considered a top-tier IT firm in Slovakia.