Former Austrian Finance Minister Karl-Heinz Grasser's Conviction Upheld

Austria's Supreme Court has halved the prison sentence of former Finance Minister Karl-Heinz Grasser, confirming corruption charges against him. Originally sentenced to eight years, Grasser will now serve four years for fraud and corruption linked to a scandal involving the privatization of state-owned homes.

Austria's Supreme Court ruled on Tuesday to uphold the conviction of former Finance Minister Karl-Heinz Grasser on corruption charges, albeit reducing his sentence from eight years to four.

Grasser's 2020 conviction encompassed crimes of fraud, accepting illicit gifts, and falsifying evidence related to the controversial privatization of thousands of state-owned homes. Despite the court's decision, Grasser has consistently denied any wrongdoing.

Once prominent within Austria's political right, Grasser served as finance minister from 2000 to 2007 and has ties to the Swarovski family through marriage.

(With inputs from agencies.)