A Czech court has convicted three people and three companies of subsidy fraud and money laundering in a €5.5 million ($6.42 million) scheme involving fabricated nanobot research projects, the European Public Prosecutor’s Office (EPPO) in Prague said Wednesday. Prosecutors said the main defendant faked documents, contracts, and invoices to secure grants for 17 bogus projects, then laundered the funds through companies he controlled. An additional €5 million ($5.83 million) in attempted fraud was uncovered.
The court sentenced the ringleader to eight years in prison, a seven-year management ban, and repayment of damages. Authorities also seized frozen assets, including a €600,000 ($699,870) model railway collection bought with stolen funds. Two accomplices received suspended sentences, while the convicted companies were barred from seeking subsidies and ordered to forfeit assets worth €2 million ($2.33 million), EPPO said.
