Police to investigate info in Panoma Papers linked to PM, hundreds of other Czechs

The Czech police’s organised crime unit will look into information contained in the Panoma Papers linked to Prime Minister Andrej Babiš and around 300 other Czechs, a spokesperson said on Monday.

A number of media outlets around the world reported on Sunday that Mr. Babiš had transferred almost CZK 400 million through a series of offshore companies, using the money to buy a chateau in the south of France.

He did not declare the purchase in the Czech Republic according to the publishers of the Panoma Papers, a leak of millions of documents that reveals hidden wealth, tax avoidance and money laundering by prominent people in many countries.

Mr. Babiš says the transactions in question took place many years ago and were not unlawful. He says the news has been timed to harm his party ANO’s chances in elections next weekend.

Author: Ian Willoughby