Czech billionaire property investor accused of £760m fraud

Skyline of Prague, Czech Republic

Czech billionaire property investor Radovan Vitek has been accused of defrauding a New York hedge fund and a Czech investment firm of more than $1bn (£760m).

Kingstown Capital Management and Investhold sued Vitek, who’s property interests in the UK include a £55m investment in 11 luxury flats in north London, in New York last week.

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