Millions found in Czech official’s Swiss account

The highest sum ever discovered on a Czech public official's account

Millions found in Czech official's Swiss account

Swiss authorities have discovered tens of millions of Czech crowns deposited in the bank account of Tomáš Kadlec, a former director of the Czech National Security Authority and also an ex-CEO of Čepro, a state-owned company that operates Czech strategic fuel reserves.

In the last years, large sums of money were deposited in the bank account established on Kadlec’s name, including one million of US dollars or hundreds of thousands of euros.

According to the finding of, a Czech online daily, more than CZK 30mil (EUR 1.2mil) have been deposited in the account.

The details were sent by the Swiss authorities to the Czech prosecutor’s office in Prague. The prosecutor declared that the money deposited in Kadlec’s account came from criminal activities.

It is the highest sum ever discovered on a Czech public official’s account.

For years, Kadlec has been among the most influential Czech state employees, and thanks to significant political protection, his position has been virtually unshakeable.

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The Swiss authorities started to look into the account on behalf of Czech prosecutors who were investigating Kadlec’s suspicious transactions in Čepro.

The millions of Czech crowns arrived to his account after he was named the director of the state-owned company in 2003.

Spokeswoman of the state prosecution in Prague Irena Válová confirmed that her office has received information about Kadlec’s account from their Swiss counterparts. However, she refused to give any details.

Kadlec has been already charged with fraud, and the case is currently being handled by a district court in Prague. Judge Helena Králová nonetheless refused to comment on millions discovered in Kadlec’s Swiss account, explaining that this part of the case has not been addressed by the court yet.

Tomáš Kadlec himself refused to comment on his Swiss account.

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