IKEM head Michal Stiborek resigns following accusations of usury

The director of the Institute of Clinical and Experimental Medicine (IKEM) in Prague, Michal Stiborek, who is reported to have made tens of millions of crowns by lending money at exorbitant interest rates has resigned from office. The claims appeared on Seznam Zprávy which also questioned the source of the money Stiborek poured into the company which granted loans at immorally high interest rates and contractual penalties. Stiborek earlier dismissed the claims as an attempt to discredit him and remove him from the hospital's management.

Both Health Minister Vlastimil Valek and Prime Minister Petr Fiala have welcomed Stiborek’s resignation.