Police charge 35 people for 850 million tax evasion in ČKD Praha DIZ case

Police have changed another 35 people in a long-running fraud case concerning now bankrupt engineering company ČKD Praha DIZ, a significant player on domestic and international markets until two years ago. In total about 60 people, including the company's former owner, have been charged.

The latest suspects are accused of helping the company evade taxes exceeding 850 million crowns in total, in part by issuing or processing fictitious invoices, or transferring funds offshore. In April, billionaire Petr Speychal, a former ČKD Praha DIZ owner, was charged with tax evasion by anti-corruption police.

Prior to going bankrupt, ČKD Praha DIZ had been embroiled in a legal battle with Prague City Hall over completion of the controversial Blanka Tunnel in the capital, which cost the taxpayers some 43 billion crowns. It was the largest and most expensive project in the history of Prague.