{"id":11338,"date":"2022-07-19T18:57:15","date_gmt":"2022-07-19T17:57:15","guid":{"rendered":"https:\/\/praguebusinessjournal.com\/?p=11338"},"modified":"2022-07-19T18:57:16","modified_gmt":"2022-07-19T17:57:16","slug":"former-czech-prime-minister-andrej-babis-to-face-trial-on-fraud-charges","status":"publish","type":"post","link":"https:\/\/praguebusinessjournal.com\/former-czech-prime-minister-andrej-babis-to-face-trial-on-fraud-charges\/","title":{"rendered":"Former Czech prime minister, Andrej Babi\u0161 to face trial on fraud charges\u00a0"},"content":{"rendered":"\n

Allegations involve a farm that received subsidies after its ownership was transferred to Babi\u0161-owned Agrofert<\/strong><\/p><\/blockquote>\n\n\n\n

Former Czech Prime Minister Andrej Babi will stand trial after being indicted in a European Union<\/a> subsidy fraud case.<\/p>\n\n\n\n

The Czech parliament had earlier voted to remove Babi’s immunity, prompting the public prosecutor in Prague to charge the populist billionaire.<\/p>\n\n\n\n

Babi is suspected of misusing \u20ac2 million in EU funds allocated for small and medium-sized businesses to fund one of his own businesses. Czech police have long demanded that Babi be charged.<\/p>\n\n\n\n

The former Prime Minister has always disputed the charges, calling them “politically motivated” and “absurd. In the past or in politics, I’ve never done anything criminal,” Babis said. “I’ll prove it in court.”<\/p>\n\n\n\n

The case has now been transferred to Prague’s Municipal Court, according to prosecutors. According to a statement, another defendant has been charged in the fraud case.<\/p>\n\n\n\n

One of the suspects, according to a representative for the Prague prosecutor’s office, “committed the crime of subsidy fraud and harmed the financial interests of the European Union.” The other suspect was a co-conspirator.<\/p>\n\n\n\n

The charges center on the Stork’s Nest farm, which was passed down to Babi’s family from a food industry empire he founded, which included roughly 250 enterprises. Later, after receiving EU subsidies, the farm was repurchased by the corporation Agrofert.<\/p>\n\n\n\n

Last year, as part of the Pandora papers, the Guardian revealed the convoluted offshore structure<\/a> that Babi\u0161 had used in 2009 to finance the purchase of a \u00a313m mansion in the south of France.<\/p>\n\n\n\n

The original source of those particular funds was unknown, however, as is why Babi\u0161 chose such a complicated structure to finance a purchase he could have made directly.<\/p>\n\n\n\n

The arrangements did not offer Babi\u0161 any obvious tax benefit, experts said. One Czech tax expert said: \u201c[It] looks like a complicated structure to hide ownership of the companies or property.\u201d<\/p>\n\n\n\n

Babi\u0161\u2019 ANO political movement lost the election. A coalition of five parties formed a new government, and ANO ended up in opposition.<\/p>\n\n\n\n

Babi’s immunity from prosecution in the case, which dates back to 2007, has been lifted twice by Czech lawmakers. Babi\u0161 led the Czech government for just one term in office between 2017 and 2021, before losing last year’s parliamentary election.<\/p>\n\n\n\n

The 67-year-old could still stand in the country’s next presidential elections, scheduled for January 2023.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Allegations involve a farm that received subsidies after its ownership was transferred to Babi\u0161-owned Agrofert Former Czech Prime Minister Andrej Babi will stand trial after being indicted in a European Union subsidy fraud case. The Czech parliament had earlier voted to remove Babi’s immunity, prompting the public prosecutor in Prague to charge the populist billionaire. … Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":11339,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[3],"tags":[15],"jetpack_publicize_connections":[],"yoast_head":"\nFormer Czech prime minister, Andrej Babi\u0161 to face trial on fraud charges\u00a0 - Prague Business Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/praguebusinessjournal.com\/former-czech-prime-minister-andrej-babis-to-face-trial-on-fraud-charges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Czech prime minister, Andrej Babi\u0161 to face trial on fraud charges\u00a0 - Prague Business Journal\" \/>\n<meta property=\"og:description\" content=\"Allegations involve a farm that received subsidies after its ownership was transferred to Babi\u0161-owned Agrofert Former Czech Prime Minister Andrej Babi will stand trial after being indicted in a European Union subsidy fraud case. 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