Viktor Kožený
Encyclopedia
Viktor Kožený is a Czech-born fugitive financier. He graduated from Harvard in 1989 with a bachelor's degree in economics. Viktor Kožený is officially an Irish
citizen imprisoned in the Bahamas in 2005 but released in 2007. Efforts to bring him to justice stem from both the Czech Republic
and the USA. An international warrant has been issued for Kožený, who in the early '90s ran one of the great scams of the post-Communist era. By the media he is often called "the pirate of Prague".
He was imprisoned after a US extradition request but that was thrown out on appeal in October 2007. However the US said they will press the case (there are further two appeals available).
In February 2008 a court case against him and his partner Boris Vostrý has started at Prague Municipal Court. The judge said he expects the trial to last about six months. Kožený has remained in the Bahamas and has not been attending the trial. He asked the prosecution to publish the charges on the Internet, which the state prosecutor has refused to do.
Czech state assets were supposed to be handed over to Czech citizens through a system of vouchers, which could then be used to buy shares in companies. However mutual funds were founded, most successfully the one started by Kožený, Harvard Capital and Consulting (which has no affiliation with Harvard University
).
Soon thousands of Czechs were signing over their voucher books to "Harvard", who promised a 1000% rate of return on investment. Harvard Funds bought shares in a number of companies, stripped assets and transferred the money abroad to offshore tax havens like the Bahamas. This scam turned out to be a huge success for Kožený and those working with him, who allegedly stole millions of dollars from investors in his funds.
. The country was considering privatizing its state run oil company, and Kožený offered his services. US investors handed their money to him, over $400 million in total from clients such as AIG
and Columbia University
. The Azerbaijan government changed its mind on privatization, but Kožený did not return the money and instead ran to tax haven Bahamas. Viktor Kožený in an exclusive interview with Mirza Khazar
of the RFE/RL Azerbaijani Service on July 17, 2001 urged Azerbaijan
i President Heidar Aliev to fulfill his promises made in 1997–1998 concerning the privatization program in his country. According to Kožený, President Aliev and his son, Ilham, personally met with him and other members of Kožený's investors group in Baku and encouraged them to buy vouchers from citizens. Shortly after the first part of the interview with Viktor Kožený was aired, the newspaper "Alternativ," with close ties to the Azerbaijan President's Office, reacted promptly, claiming that President Aliev or his son Ilham never met with Kožený. The paper admitted Kožený may have been tricked by some officials, but rejected his claim that President Aliev made any commitments to his group. Kožený faces a serious legal action by famed Manhattan District Attorney
Robert Morgenthau, who has filed an indictment in New York for his bribery of Azeri officials.
His trial for the scam began on June 1, 2010.
Viktor Kožený on FaceBook:
Official presentation protective association small auctioneers (a branch of Harvard funds run by Viktor Kožený)
Down-right text charge Viktor Kožený
Forum involved auctioneers Kozeneho harvardských funds
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
citizen imprisoned in the Bahamas in 2005 but released in 2007. Efforts to bring him to justice stem from both the Czech Republic
Czech Republic
The Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the northeast, Slovakia to the east, Austria to the south, and Germany to the west and northwest....
and the USA. An international warrant has been issued for Kožený, who in the early '90s ran one of the great scams of the post-Communist era. By the media he is often called "the pirate of Prague".
He was imprisoned after a US extradition request but that was thrown out on appeal in October 2007. However the US said they will press the case (there are further two appeals available).
In February 2008 a court case against him and his partner Boris Vostrý has started at Prague Municipal Court. The judge said he expects the trial to last about six months. Kožený has remained in the Bahamas and has not been attending the trial. He asked the prosecution to publish the charges on the Internet, which the state prosecutor has refused to do.
Czech voucher privatization
During the voucher privatizationVoucher privatization
Voucher privatization is a privatization method where citizens are given or can inexpensively buy a book of vouchers that represent potential shares in any state-owned company...
Czech state assets were supposed to be handed over to Czech citizens through a system of vouchers, which could then be used to buy shares in companies. However mutual funds were founded, most successfully the one started by Kožený, Harvard Capital and Consulting (which has no affiliation with Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
).
Soon thousands of Czechs were signing over their voucher books to "Harvard", who promised a 1000% rate of return on investment. Harvard Funds bought shares in a number of companies, stripped assets and transferred the money abroad to offshore tax havens like the Bahamas. This scam turned out to be a huge success for Kožený and those working with him, who allegedly stole millions of dollars from investors in his funds.
Azerbaijan scam
In 1994, Kožený wanted to conduct a similar transaction in AzerbaijanAzerbaijan
Azerbaijan , officially the Republic of Azerbaijan is the largest country in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded by the Caspian Sea to the east, Russia to the north, Georgia to the northwest, Armenia to the west, and Iran to...
. The country was considering privatizing its state run oil company, and Kožený offered his services. US investors handed their money to him, over $400 million in total from clients such as AIG
AIG
AIG is American International Group, a major American insurance corporation.AIG may also refer to:* And-inverter graph, a concept in computer theory* Answers in Genesis, a creationist organization in the U.S.* Arta Industrial Group in Iran...
and Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
. The Azerbaijan government changed its mind on privatization, but Kožený did not return the money and instead ran to tax haven Bahamas. Viktor Kožený in an exclusive interview with Mirza Khazar
Mirza Khazar
Mirza Kerim oglu Mikayilov , known as Mirza Khazar , is an eminent Azerbaijani author, political analyst, legendary anchorman, radio journalist, publisher, and translator. Mirza Khazar is a Mountain Jew...
of the RFE/RL Azerbaijani Service on July 17, 2001 urged Azerbaijan
Azerbaijan
Azerbaijan , officially the Republic of Azerbaijan is the largest country in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded by the Caspian Sea to the east, Russia to the north, Georgia to the northwest, Armenia to the west, and Iran to...
i President Heidar Aliev to fulfill his promises made in 1997–1998 concerning the privatization program in his country. According to Kožený, President Aliev and his son, Ilham, personally met with him and other members of Kožený's investors group in Baku and encouraged them to buy vouchers from citizens. Shortly after the first part of the interview with Viktor Kožený was aired, the newspaper "Alternativ," with close ties to the Azerbaijan President's Office, reacted promptly, claiming that President Aliev or his son Ilham never met with Kožený. The paper admitted Kožený may have been tricked by some officials, but rejected his claim that President Aliev made any commitments to his group. Kožený faces a serious legal action by famed Manhattan District Attorney
New York County District Attorney
The New York County District Attorney is the elected district attorney for New York County , New York. The office is responsible for the prosecution of violations of New York state laws....
Robert Morgenthau, who has filed an indictment in New York for his bribery of Azeri officials.
His trial for the scam began on June 1, 2010.
External links
Official presentation by Harvard industrial holdings (previous funds run by Viktor Kožený)- http://www.hph-likvidace.cz/index.htm
Viktor Kožený on FaceBook:
- http://www.facebook.com/kozeny
Official presentation protective association small auctioneers (a branch of Harvard funds run by Viktor Kožený)
- http://www.osma1997.cz/aktuality/default.aspx
Down-right text charge Viktor Kožený
- http://www.kozenyobzaloba.cz (invalid link)
Forum involved auctioneers Kozeneho harvardských funds
- http://www.kurzy.cz/nazory/A-V-T-768-O-1-TP-/