Investment Scam: Woman Near Mladá Boleslav Loses 1.5 Million Crowns, Fraudster Caught Trying to Collect Another Million

Police in the Mladá Boleslav region have detained a 46-year-old man suspected of running an investment scam that cost a local woman more than 1.5 million crowns. The arrest took place at the end of last week, just as the suspect was on his way to collect another million in cash from the victim.

An ad featuring a well-known politician

According to police, the victim responded to an online ad for a lucrative investment opportunity several months ago, one that supposedly featured a well-known politician. Over time, in several separate payments, the woman transferred more than 1.5 million crowns to a fake investment account controlled by the fraudster.

To reassure her that the scheme was legitimate, she regularly received fake account statements and profit charts by email — according to which her investments had supposedly earned her up to 100,000 crowns in profit. When she tried to withdraw the money, a "representative" of the investment platform told her she first needed to transfer an additional 1 million crowns.

The bank suspected fraud, but the woman didn't believe it

The bank flagged the transaction as suspicious and refused to process the transfer. The woman then decided to withdraw the sum in cash at a branch instead. "Bank staff tried to explain to her that this was fraud — they deal with cases like this every day. But she didn't believe them and, despite repeated warnings, insisted on going through with it," said police spokeswoman Barbora Šněvajsová. The bank employees alerted police, who took immediate action. Officers managed to arrest the suspect at the exact moment he was on his way to the victim to collect yet another million crowns in cash.

The victim refused to believe she'd been scammed — until the very end

According to police, even after officers explained that she had fallen victim to a fraudster, the woman refused to accept it, insisting that an investment tied to a well-known politician couldn't possibly be a scam. It took a lengthy explanation to finally get through to her — and the outcome was grim: she had lost more than 1.5 million crowns.

The detained 46-year-old man has been charged with laundering proceeds from criminal activity. If convicted, he faces up to 8 years in prison. Police announced the results of the investigation on Wednesday morning.

How to avoid falling for the trick

Police have long been warning about this type of investment scam, highlighting the growing risks posed by artificial intelligence: the technology is making such scams increasingly convincing and harder to spot. Similar fake "investment tips" often circulate on social media disguised as content from well-known media outlets — the outlets themselves have nothing to do with them, as fraudsters simply borrow their logos and design to win victims' trust.

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Around Prague, based on reporting by novinky.cz