Criminal investigators accused 13 people of fraud with damage of 340 million crowns

The accused are being prosecuted for fraud and participation in an organized criminal group, four of them were charged in connection with the case as early as 2022. Jaroslav Ibehej, the spokesperson of the headquarters, informed about the case in a press release. The prosecution of 13 persons is conducted at large.

According to the police, the group of eighteen companies presented itself as an independent investment group, which is able to ensure a more advantageous appreciation of deposits in order to minimize risks and maximize profits.

“According to our conclusions, however, the companies did not carry out significant appreciation of deposits, nor did they show any investment activity,” said Ibehej. On the contrary, the companies used the money obtained for the benefit of the people who participated in the management, operation and activities of the group. The group also lent finance to other entities.

Fraudulent websites are increasing, targeting bank clients

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According to the police, the accused carried out fraudulent activities in a long-term, systematic and organized manner. “According to our findings, neither the group of companies nor the accused persons had the appropriate authorization from the supervisory authority over the financial market, which is the Czech National Bank,” said Ibehej.

The case is supervised by the High Prosecutor’s Office in Olomouc. The accused face up to 13 years in prison. The detectives have a list of victims, according to the spokesman, so there is no need to report to the police. However, they recommend increased caution before investments.

The police charged four people in connection with the Ramfin group back in April 2022. At that time, they said that the perpetrators from Brno, according to the investigators, had created an extensive network of companies that, in particular through a nationwide discount company, approached senior citizens under the pretext of help and advice. Sales representatives and sellers of these companies then offered investments to elderly people from all over the Czech Republic at personal meetings. Police said they took advantage of their ignorance, gullibility and easy manipulation.