class=”sc-3778e872-0 cKDKQr”>
In financial terms, the mountain railway in Crans-Montana VS is nothing more than a hobby for billionaire Radovan Vitek (52): business magazine “Forbes” estimates the Czech’s fortune at 6.7 billion US dollars (the equivalent of 6 billion francs ) . However, it is rumored that he did not earn all that money honestly, as two former business partners and an American hedge fund accuse him of.
It is said that the former business partners suffered great financial losses from Vitek and legal action has been taken against them for years. Court files are now several hundred pages thick. Now the plaintiffs achieve a gradual victory: a Cypriot court orders the freezing of 13 billion kronor (537 million francs) assets of Vitek – this is reported by “NZZ”. If the judges decide, the money can be blocked until the end of the court hearings.
Fake companies and cheap purchases
Radovan Vitek owns approximately 87 percent of CPIPG, one of the largest real estate companies in Europe. The takeover of Luxembourg company OPG was a decisive step towards becoming a real estate tycoon. According to a report by the Luxembourg financial market supervisor, it is said to use Cypriot shell companies as “NZZ” for this. writer. In doing so, it violated reporting thresholds and other regulations. Because of this, he had to pay a fine of 1.5 million euros. It is also said that Vitek secretly bought cheap real estate from OPG, thereby hurting other investors.
On the CPIPG side, a person appears convinced that “nonsense and unfounded claims will fail again” to “NZZ”. These have already been denied by a court in New York. (smt)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
