Handelsblatt noted that Vítek, who is also interested in real estate in Germany, is known for rough business methods.
“A Czech businessman created a real estate empire, including in Germany. Former business partners are suing him and the Cyprus court has now found them right,” wrote Handelsblatt, which published the text on its website on Monday evening. Der Spiegel magazine reported on the freezing of part of Vítek’s assets on Tuesday.
According to Handelsblatt, Vítek’s former partners have filed lawsuits against the Czech investor in the USA, Luxembourg and Cyprus since 2015 for defrauding them through fictitious companies when building CPI. A court in Cyprus recently ordered the banks to freeze part of Vítka’s assets, the newspaper reported. According to him, the deadline for Vítka’s lawyers to present their arguments expired at the end of April. By the summer, judges will decide whether the money will remain frozen until the end of the court case, Handelsblatt added. He mentions Czech-Swiss citizen Jiří Diviš as one of the plaintiffs.
Vítka’s real estate company CPI Property Group is headquartered in Luxembourg and its shares are traded on the Frankfurt Stock Exchange. He owns real estate in the Czech Republic, Hungary, Poland, Slovakia, Croatia, Switzerland, as well as in France, Romania, Russia and Britain. Vítek owns 87.8 percent of CPI Property Group. According to Forbes magazine, he is one of the nine Czech dollar billionaires.
The operating profit of Vítkov real estate company CPIPG increased by 61 percent
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