Motoinvest
The Motoinvest Group was founded on November 18, 1991 and ceased to exist in 1998. In the course of its existence, Motoinvest has become synonymous with opaque financial transactions beyond legal limits, in particular because of the "tunneling" of the banks and corporations it controls. The head of Motoinvest, Pavel Tykač , was nicknamed the “pest of the capital market”.
Motoinvest co-founders included Pavel Tykač , Jan Dienstl , Aleš Tříska (brother of the author of the privatization Dušan Tříska ) and Svatopluk Potáč (former member of the Central Committee of the Communist Party of Czechoslovakia and former chairman of the Czechoslovak State Bank and the State Planning Commission). During the time of its existence, the group focused on buying and selling stakes in banks, mutual funds and companies that changed hands in the course of privatization. Motoinvest representatives owned or were represented on management bodies of První slezská banka , Ekoagrobanka , Kreditní banka and Agrobanka and also caused problems for the Skala banking house . At the height of Motoinvest's activities, the aforementioned people managed assets of up to CZK 80 billion due to their stakes in various companies.
Since its inception, the Motoinvest Group has sparked fears and speculations, which were primarily due to its non-transparent structure. The governor of the Czech National Bank , Josef Tošovský, was one of the main critics of the company .
Motoinvest and links to politics
Motoinvest was known for its close ties to political representatives of all parties and their family members. For example, Lívie Klausová (wife of the then Prime Minister Václav Klaus ) sat on the supervisory board of the ZVVZ Milevsko joint stock company together with Motoinvest boss Pavel Tykač and has never made a secret of her good relationship with Tykač.
In 1995 Motoinvest helped the Christian Democratic KDU-ČSL when Josef Lux's party received a loan from a financial institution belonging to the Motoinvest financial group. Plzeňská banka, whose general director Petr Rybář was also a member of the supra-regional committee of the KDU-ČSL, provided the party with 14.9 million crowns. In 1997, party chairman Josef Lux himself confirmed speculations about the loan to KDU-ČSL from Plzeňská banka, which is controlled by Motoinvest.
In the case of Agrobanka and Kreditní banka, the suspicion arose that the people around Motoinvest used their contacts to leading politicians from the ODS , ČSSD and KDU-ČSL to influence the investigation.
Motoinvest's activities and ties to politics outraged not only the public but also the ruling parties. They were suspected of covering fraudulent entrepreneurs. In 1997 the media published information about black accounts of the two conservative parties, ODS and ODA . As a result of the resulting political crisis, the Klaus government had to abdicate. The ODA party did not survive the ultimate test and fell apart.
In 1998 Motoinvest also supported the social democratic ČSSD with a loan of CZK 19 million . Pavel Tykač then became an advisor to Finance Minister Ivo Svoboda , who soon had to resign because he was accused of corruption in connection with the "tunneling" of the Liberta company and was subsequently convicted.
Banks controlled by Motoinvest
Agrobanka
Motoinvest received interest-free 900 million from Agrobanka in December 1995 for the purchase of Plzeňská banka. Agrobanka spent almost the same amount on worthless shares and investments in the AGB 2 and Credit funds. In the summer of 1996, Agrobanka then lost SEK 265 million on the purchase of shares in the Texlen textile company , and a loan of SEK 370 million for the investment companies 2. CS Holding and YSE 2 (both controlled by the Motoinvest group), the bank settled with unsaleable securities pay.
The story of Agrobanka and its administration revived in 2000. The then administrator of Agrobanka and employee of the Czech National Bank Jiří Klumpar took up the fight with the former representatives of the Motoinvest group, which owned Agrobanka. On his initiative, the Motoinvest era was examined by the renowned company Price Waterhouse, which uncovered numerous suspicious transactions in which at least 2.5 billion crowns were lost. Administrator Klumpar and the Czech National Bank filed a total of eight criminal charges. The subsequent audit by the Price Waterhouse company put the loss of Agrobanka under the management of Motoinvest at nine billion kroner, with the total costs and remedial expenses to resolve the crisis associated with Agrobanka estimated at 50 billion kroner.
Motoinvest General Director Pavel Tykač attempted to sharply reject the Price Waterhouse auditors' report in several public appearances.
Individual evidence
- ↑ http://www.prvnizpravy.cz/zpravy/zpravy/jak-kamaradi-tykac-a-dienstl-k-miliardam-prisli/
- ↑ http://nr1a.com/privatizace.htm
- ↑ http://archiv.ihned.cz/c1-19826970-prosluly-skudce-doktor-moriarty
- ↑ http://respekt.ihned.cz/c1-36163730-kdo-kradl-v-privatizaci
- ↑ http://respekt.ihned.cz/c1-54210470-klausovy-stiky-v-rybniku
- ↑ http://zivotopisyonline.cz/livia-klausova-podporuje-v-prezidentskych-volbach-milose-zemana/
- ↑ Archived copy ( memento of the original dated February 4, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ http://respekt.ihned.cz/c1-36066070-dobre-ucty-delaji-dobre-pratele
- ↑ http://www.mapovani.cz/pavel-tykac/pavel-tykac-vzdelani-kariera-rodina/797
- ↑ http://www.ceskatelevize.cz/ct24/exkluzivne-na-ct24/37206-tzv-sarajevsky-atentat-odstartoval-zatim-nejvetsi-politickou-krizi-v-cr
- ↑ http://zpravy.idnes.cz/novym-ministrem-financi-je-pavel-mertlik-fp5-/domaci.aspx?c=990719_152931_domaci_itu
- ↑ http://respekt.ihned.cz/c1-36073150-kdo-muze-za-ztraty-agrobanky
- ↑ a b c d e Archived copy ( memento of the original dated February 4, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
