The Metropolitan Savings Cooperative case: where did the €330 million disappear to? Didn’t prosecutors help a billionaire get an extraordinary bargain?
In 2013, Metropolitan Savings Cooperative (MSD) was blocked for more than half a year with CZK 2.7 billion by the Prague High State Prosecutor’s Office. The cooperative ended up in bankruptcy, with assets worth an estimated CZK 10 billion acquired by billionaire Karel Pražák for CZK 1.4 billion. The collapse of the campelika is still being resolved by the courts. Ekonomický deník tried to analyse the story of the sale of the fallen credit union. Two weeks ago, Ekonomický deník published information about the prosecution of the head of the Prague company Eltodo for credit fraud against the Metropolitan Savings Cooperative. The police have already handed the case over to the prosecutor with a proposal for indictment.
Source https://ekonomickydenik.cz/kauza-metropolitniho-sporitelniho-druzstva-kam-zmizelo-8-a-pul-miliardy/