Police want to indict four people for investment fraud causing damages of 623 million CZK

Police have proposed charging four people over an investment fraud that caused damages of at least 623 million crowns. Three Czech citizens and one foreign national face a maximum sentence of ten years in prison. According to investigators, they harmed more than 1,500 clients by soliciting money under the pretense of establishing trust funds and promising a nine-percent return on deposits. Jaroslav Ibehej, spokesman for the National Centre for Organized Crime (NCOZ), informed the news agency ČTK of this on Friday. Media have previously reported that the case concerns the company Invest & Property Consulting (IPC).