Jet Airways investor Florian Fritsch being probed for suspected fraud
The supreme court in Liechtenstein rejected an appeal to unfreeze the assets that include seven Porsche cars, five Rolex “boxes” and a classic car simulator worth as much as $214,000, according to a June verdict published on the court website, Bloomberg reported.
)
A Liechtenstein court order has exposed a trove of luxury cars and watches among the items seized by prosecutors investigating allegations of fraud linked to one of the investors aiming to revive India's Jet Airways, a media report said.
The supreme court in Liechtenstein rejected an appeal to unfreeze the assets that include seven Porsche cars, five Rolex “boxes” and a classic car simulator worth as much as $214,000, according to a June verdict published on the court website, Bloomberg reported.
Florian Fritsch is being investigated for suspected fraud and money laundering by prosecutors in the tiny principality, wedged between Austria and Switzerland. He didn't respond to an email and message seeking comment, the report said.
Fritsch and his investment company Kalrock Capital are part of a consortium picked to revive Jet Airways, once India's top private carrier, that filed for bankruptcy in 2019. The investors have pledged to invest Rs1 billion ($12 million) by the end of September to take control of Jet Airways, the media outlet reported.
The Liechtenstein probe has advanced but will need more time to be completed, said Chief Prosecutor Robert Wallner. He was responding to questions about the probe into Fritsch but did not name him in his responses to Bloomberg.
A large number of confiscated documents had been unaccessible to prosecutors due to numerous appeals by the suspects, Wallner said by email. An unsealing process is now underway, he was quoted by the media outlet as saying.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

Rs 1,500 Monthly SIP for 20 Years vs Rs 15,000 Monthly SIP for 5 Years: Know which one can give you higher returns in long term

FD Rates for Rs 10 lakh investment: Compare SBI, PNB, HDFC, ICICI, and Post Office 5-year fixed deposit returns

LIC Saral Pension Plan: How much should you invest one time to get Rs 64,000 annual pension for life?

SIP Calculation at 12% Annualised Return: Rs 1,000 monthly SIP for 20 years, Rs 4,000 for 5 years or Rs 10,000 for 2 years, which do you think works best?

SBI Senior Citizen FD Rates: Know your maturity amount for investments ranging from Rs 5 lakh to Rs 15 lakh in 1 year, 3-year and 5-year, calculations inside

Gratuity Calculation: What will be your gratuity on Rs 45,000 last-drawn basic salary for 6 years & 9 months of service?
02:45 PM IST