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Briton held in property fraud probe

A British man suspected of a multi-million pounds property fraud has been arrested, Czech police said.

An anti-corruption unit detained the 64-year-old, who was not named, in the town of Rataje nad Sazavou, said police spokesman Roman Skrepek.

Mr Skrepek said in a statement the suspect allegedly misled investors from a number of countries, including Australia, Britain, Canada, France, Germany, Peru, Switzerland and Singapore by promising them profits through investment in the Czech property.

A Prague court had ordered the man's arrest in August 2008. He has been on the run since.

The statement said the victims were defrauded of more than 120 million koruna (£4.3 million).


From Belfast Telegraph