Eccentric entrepreneur Mikulas Vareha, who is accused of a massive tax fraud worth almost EUR 32,730,000, has been refused bail by the Supreme Court and so will remain in custody.
The Supreme Court issued the ruling to keep Vareha in custody to prevent him continuing in criminal activities, after it cancelled the original decision that was based on fear that he would flee the country or continue with criminal activities.
Vareha had offered the court his personal written promise and bail of EUR 50,000 to keep him out of jail, but the court rejected his offer. He has been in custody since 1 March and if found guilty of tax and insurance fraud, he could go to jail for up to 12 years.
The charges against Vareha claim he made fictive transfers for fictive goods between his 77 companies then claimed the VAT back on them.