Czech police shelve case of alleged business wrongdoing by ex premier

Czech police have formally shelved an investigation into former Social Democrat Prime Minister Stanislav Gross’ business dealings. The case revolves around last year’s purchase and sale of shares by Mr. Gross in the company Moravia Energo. Mr Gross purchased a one third stake in the electricity company last year from former colleague Robert Sykora, who also served as deputy trade minister – the loan was financed by a company called Key Investments. Mr Gross then resold the shares to a company called Arca Capital Bohemia, making a sizable profit in the process. The case was investigated by the Czech anti-corruption police, who today announced that they had found no evidence of wrongdoing.