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Businessman or politician? Billionaire Czech PM under fire again

On February 19, the European Commission sent a letter inquiring about Czech Prime Minister Andrej Babis's transfer of Agrofert to the RSVP Trust run by an independent administrator last month.
Since 2011, Babis has faced conflict-of-interest scrutiny as a billionaire businessman in politics; earlier this month, Czech parliament refused to strip his immunity to face related charges over alleged subsidy fraud.
Seznam Zpravy-published RSVP Trust statutes show the independent administrator runs the fund only while Babis holds office, then management passes to three of his four children, who could theoretically restore his control.
Prague said it will respond to all European Commission questions, while the Czech finance ministry halted EU subsidy requests for Agrofert following an audit. Babis stated, "I have no influence on Agrofert and I have and will not have any profits from it."
Critics call the arrangement deja-vu after Babis transferred Agrofert into trust funds during his 2017-2021 premiership while remaining beneficial owner. Transparency International also criticized his retention of SynBiol, a chemicals and investment group, citing the general rule that government members must avoid conduct benefiting relatives.

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Businessman or politician? Billionaire Czech PM under fire again

Since entering politics in 2011, Czech Prime Minister Andrej Babis has been grappling with a conflict of interest as a billionaire businessman and politician, and his latest stint in power is no exception.

1 day ago·Missoula, United States

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