October 21, 2021

Beyond Going Long

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Babis admitted to buying real estate in France through offshore companies

He told reporters that the real estate agency recommended him to buy through a series of offshore companies.

Czech Prime Minister Andrej Babis admitted that he had bought 16 properties in France for about 400 million crowns, which, according to the results of global investigative journalists, he sent through his offshore companies. However, he denied the fact that he would own any real estate or offshore to news server Novinky.cz.

Babish admitted on Monday that he had bought properties on the French Riviera. He told reporters that the real estate agency recommended him to buy through a series of offshore companies. He admitted that such a measure was not suitable for politicians, but at that time he had no role in politics, as he himself claimed on Czech television.

“It was a recommendation from a real estate agency; it was recommended to buy it through a lawyer. It’s nothing illegal,” Babish said.

The Prime Minister also told the news that he does not own any real estate. The prime minister wrote to Novinke, rejecting the findings of investigative journalists: “I own no offshore companies and no real estate in France. Due to the Czech law ‘Lex Babis’, I no longer have my former Czech company.” It is an attempt to discredit him before the parliamentary elections that will be held on Friday and Saturday.

Babish, as a natural person, does not have these characteristics written on himself. The assets are within the holdings Agrofert and SynBiol, which the Prime Minister transferred to trusts in 2017 as a result of a conflict of interest law. However, the prime minister remains a beneficiary of the fund. After leaving the policy, he can take the collectibles out of the boxes again.

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