Czech couple charged over attempted USD 3.5 billion fraud

07-02-2008

Police in South Bohemia are investigating a case of alleged attempted fraud amounting to USD 3.5 billion. A married couple from Písek allegedly sought a guarantee from a Swiss bank on the basis of a certificate “issued” by a non-existent financial institute in the US. However, the bank suspected the documents were fake and halted the whole process before any contract was signed. The couple, who have not been remanded in custody, said they needed the loan to finance the establishment of an airline.