Thursday, 13 August 2020

Famous fraudster Radovan Krejčíř's villa did not sell again at auction

Prague Daily Monitor |
16 January 2020

It is the sixth auction in as many years but Radovan Krejčíř’s luxurious villa in Cernosice, just outside of the Prague city limits, remains without a new owner. The electronic auction minimum bid of CZK 28.1 million remained void of any interest. The information was released by the spokeswomen for the Executor’s Association Lenka Desatová. Desatová also added that the next auction could take place in three or four months.

The villa was priced at three quarters of the appraised value of CZK 42.1 million. The value was dropped significantly from the last appraisal due to a fire that broke out at the complex last August. The fire was said to cause an estimated CZK 20 million in damage. The next auction will most likely see the minimum price set at half the appraisal value. According to execution laws in the Czech Republic, the minimum price offer needs to be 25% of appraisal value. Although 6 attempts have made to sell the villa since 2016, not a single offer has ever been made.

Krejčíř went on the lam in 2005 from Czech authorities. Two years ago in March, Krejcir’s verdict of trying to “tunnel” out Čepro, a Czech State company, as well as other unlawful acts, was confirmed by the Supreme Court. He received a 15 year prison sentence.

Krejčíř has lived in South Africa since 2007, sitting in prison there since 2013. In 2016 he was convicted of attempted murder, kidnapping, torture and the illegal sale of narcotics and was sentenced to 35 years in prison. He is not happy with his South African prison terms and has requested to be returned to the Czech Republic. If he will be allowed to return and sit out his sentence in the Czech Republic will be decided by the Minister of Justice in South Africa.

The villa may remain a tough sell.