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Billionaire's Swiss Ski Resort Probed Amid Hedge-fund Lawsuit

by bloomberg.com posted 3months ago 23 views
Swiss prosecutors are investigating a series of financing deals at a ski resort owned by Czech property billionaire Radovan Vitek that were raised in a U.S. lawsuit over allegations that he defrauded a New York hedge fund and a Czech investment firm of more than $1 billion. Prosecutors in the canton of Valais are looking into a 2016 capital raising by Remontees Mecaniques Crans-Montana Aminona SA (CMA) and how it used the money to increase its stake in a related property company. Valais Attorney General Nicolas Dubuis said the financing round is under investigation, but declined to give further details.

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