Agrofert unit returns CZK 50mn granted to Stork’s Nest complex

Imoba, which is part of the Agrofert conglomerate once owned by the current prime minister, voluntarily returned an EU subsidy of CZK 50 million on Thursday. Imoba said it repaid the money, issued to the Stork’s Nest complex near Prague, because it did not expect to be treated fairly in the courts.

Earlier, Imoba said such a move would not represent an admission that grant regulations were breached. Prime Minister Andrej Babiš (ANO), the billionaire founder of Agrofert, faces criminal charges over having allegedly wrongly acquired EU funding earmarked for small businesses.

Author: Brian Kenety