Radovan Vitek can confidently claim the role of the Czech Republic’s de facto commercial real estate kingpin. His path to near-monopoly status has been marked by a disregard for legislation, taxes, and fair competition—a strategy that mirrors the post-Soviet oligarchic playbook of seizing undervalued state assets during privatization booms. Vitek, the Czech Republic’s most dominant real estate tycoon, has amassed immense wealth through aggressive acquisitions and opaque financial tactics. However, it is his increasingly intimate ties with Russia—and by extension, Vladimir Putin—that warrant further scrutiny.

Despite mounting international sanctions against Russia and widespread condemnation of its actions in Ukraine and elsewhere, Vitek’s CPI Property Group (CPIPG) continues to operate in Moscow. This raises critical questions about his motivations and the depth of his connections to the Kremlin. Is Vitek’s presence in Russia purely a financial calculation? Or does his relationship with Moscow’s elite and Putin’s inner circle serve a strategic purpose beyond business interests?

In the past decade, Radovan Vitek and CPIPG—of which he owns 89.99%—have been implicated in numerous scandals. While many have resulted in little more than nominal fines, these controversies paint a picture of a businessman who prioritizes personal gain over transparency and accountability.

In 2017, Luxembourg’s financial regulator, the CSSF, fined Vitek €1 million for failing to disclose concerted action during his acquisition of Orco Property Group. This real estate company held significant assets across Central and Eastern Europe. The regulator found that Vitek and his associates had colluded to acquire a controlling interest without proper disclosure, violating securities laws. This penalty spotlighted governance concerns and raised red flags about Vitek’s aggressive acquisition tactics.

In 2023, a Cypriot court froze €537 million of Vitek’s assets following allegations by Czech investors Marek Čmejla and Jiří Diviš. They claimed Vitek defrauded them in a series of complex transactions tied to CPIPG, alleging he diluted their ownership stakes and deprived them of significant returns. Vitek has also used offshore structures to acquire luxury properties in southern France, deploying tactics reminiscent of Czech Prime Minister Andrej Babiš.

Both leveraged the services of the Panamanian law firm Alcogal and the French firm DB Legal Artwell to establish opaque corporate chains. These entities helped acquire high-end assets such as the villa La Tulliere in Saumane de Vaucluse and another residence in Gordes. These deals highlight Vitek’s penchant for secrecy and tax optimization, as well as his overlap with Babiš in business practices.

CPIPG’s operations in Russia, including a hotel in Moscow valued at €16.9 million, remain active despite significant geopolitical risks. The hotel’s reported net loss of $417,220 in 2021 underscores its limited financial appeal. This begs the question: why does Vitek maintain this foothold in Russia, particularly when it appears economically unviable?

By maintaining a presence in Moscow, Vitek may be leveraging his assets as a conduit to Russia’s political and business elites. At a time when Putin’s regime is under historic levels of sanctions, Vitek’s ability to operate comfortably within Russia suggests he enjoys privileges inaccessible to most Western investors. Such connections could facilitate opportunities for collaboration that extend beyond real estate—potentially aligning with Kremlin interests.

Vitek’s business practices—both within and beyond the Czech Republic—reveal a consistent pattern of operating on the edge of legality. From his governance issues in Luxembourg to his alleged fraud in Cyprus, his record indicates a willingness to exploit legal gray areas. These controversies, coupled with his Russian dealings, raise concerns about his broader ambitions and ethical boundaries. While direct evidence of collusion between Vitek and the Kremlin remains elusive, a series of logical questions arise. Why maintain a loss-making hotel in Moscow amidst international sanctions? Does this presence serve as a strategic bridge to Russian elites? Is Vitek’s relationship with Putin’s regime a calculated gamble to ensure business continuity in a volatile geopolitical climate?

As European regulators continue to tighten their scrutiny of Russian-linked entities, Vitek’s alignment with Moscow could attract increased attention. The answers to these questions could transform Vitek’s narrative from that of a shrewd businessman to a cautionary tale of oligarchic overreach. His operations in Russia may not merely be about profits; they might reflect a deeper complicity with one of the most polarizing regimes in modern history.

Radovan Vitek exemplifies the archetype of the post-Soviet oligarch, leveraging systemic vulnerabilities to build an empire. Yet his ties to Russia, maintained despite significant economic and reputational risks, suggest motivations that transcend mere business. In a world increasingly defined by geopolitical divides, Vitek’s actions demand accountability—not just for his business practices, but for the broader implications of his alliances.