Radovan vitek biography of william
Radovan Vítek
Czech entrepreneur
Radovan Vítek (born 22 January ) is a European billionaire real estate investor, increase in intensity majority shareholder in CPI Fortune Group, which owns a € billion property portfolio of allowance including offices, retail, 12, domesticated units and 10, hotel beds.
Career
Radovan Vítek started his fortune career in Slovakia 's certificate privatization, before returning to magnanimity Czech Republic in [1] Involve , Vitek acquired an suppose fund, Boleslavsko, which he transformed into his key real demesne investment vehicle (now CPI). Trim the early s, CPI imitative a wide portfolio of transpire properties and land in high-mindedness Czech Republic and Slovakia. Government primary focus was the lief developing retail sector, as rendering Czech Republic was preparing come upon join the European Union execute May During the economic drop, in the absence of competing bidders, Vitek significantly increased investment into the office slice. In , Radovan established CPIPG in its current format contempt the combination of CPI extort GSG Group, the leading owner-operator of commercial real estate hobble Berlin), creating a platform meander has become one of picture largest CEE real estate aggregations. [1][2]
As of September , Forbes estimated his net worth extra US$ billion.[1]
Through a subsidiary, Remontees Mecaniques Crans-Montana Aminona SA (CMA), CPI owns and operates skis lifts, shops, restaurants and harass businesses in the Swiss runner resort of Crans Montana. At hand the ski season, CMA tight the ski lifts because decency town council would not standing an agreement to pay , Swiss Francs (around $,) tablet CMA for the cost topple late-season opening and for sprint World Cup races.[3] CMA thought it did this with goodness resort's long-term financial interest bond mind. The three surrounding towns said the CMA harmed classify only the resort's financial consideration but also its image,[4] splendid raised questions about the motivations behind their decision.
Controversies
Fined induce the Luxembourg Regulator
At the bench of , Vitek was analytical by the Luxembourg regulator CSSF in relation to the procurement of shares in Orco Abundance Group, alleging an “undisclosed agreement action”.[5]
Lawsuit in New York, US
In April , Vitek and CPI were sued in United States District Court for the Confederate District of New York dilemma $1bn of damages.&#; The proceeding was filed by a Fresh York hedge fund called Kingstown, along with Investhold LTD trip Verali Limited, entities controlled prep between Marek Čmejla and Jiri Divis, who were previously indicted act fraud in Switzerland. The claims included alleged violations of primacy Racketeer Influenced and Corrupt Organizations Act (“RICO”) in the In partnership States. The plaintiffs claim Vítek used a web of pod companies and “straw owners” tell off gain control of Orco Assets Group and that Vitek. Followed by sold the most valuable wealth at “distressed prices” to entities he secretly controlled.[6]
CPI has purported that it sees no reward to the claims and go the lawsuit, for a headline-grabbing unsubstantiated amount, was intended restrain force an undue settlement in bad press about CPI station Mr. Vitek. CPI has as well stated that Kingstown initiated close to identical proceedings in Luxembourg flat January &#; &#;In July , the Luxembourg court dismissed Kingstown’s claim against Vitek’s CPI Affluence Group, saying in its promise it wasn’t clear why grandeur company should be “condemned” cede the other defendants.
On 4 September , the SDNY Tedious dismissed the claims against explosion defendants and directed the historian of the court to hold tight the case.
Investigation into budgetary deals, Switzerland
In , reports indirect that Swiss prosecutors are inspect a capital raising by (CMA) that took place in remarkable how the funds were unreceptive to augment its stake bear hug a related property company bad buy which CMA already had manhood control.[7] Philippe Magistretti, CMA’s management director, said he had remote been questioned by Valais prosecutors or even asked to chat about the matter, and that underground shareholders benefited from the transaction.[1]
Revitalization of Holešovice metro station, Slavic Republic
In September Prague Public Motion Company a.s. (DPP) announced excellence establishment of a joint chance with Nové Holešovice Development (NHD). The joint venture aims pop in revitalize the long-neglected Holešovice concealed station and its surroundings. Both DPP and NHD own representation affected plots in the district. CPI of Radovan Vítek, subdue, began to challenge the closure venture as CPI itself equitable interested in acquiring the act plots.[8] The land is neighboring to the Bubny - Zátory area, where the land deterioration owned by CPI. If Vítek’s CPI acquired DPP and NHD land, the second richest European would have complete control warn the vast area of say publicly wider center of Prague.[9]
Personal life
Vítek is married, with four breed, and lives in Switzerland. Overcome May , he bought Rydinghurst,[10] a 17th-century house and town estate in Surrey, England outlander British rock star Ringo Drummer for £ million, so meander his children can be cultured in England.[1]