Czech presidential candidate Babis cleared in fraud case

FILE PHOTO: Former Czech Prime Minister and presidential candidate Andrej Babis attends his trial for alleged EU subsidy fraud at the Municipal Court in Prague, Czech Republic, January 4, 2023. REUTERS/David W Cerny

PRAGUE (Reuters) - A Czech court on Monday acquitted former prime minister Andrej Babis of alleged fraud in securing EU subsidies, improving the billionaire's prospects in a presidential election this week in which he is among the favourites.

The prosecution had sought a suspended jail term and a fine, accusing Babis of hiding his ownership of one firm 15 years ago to illegally tap 2 million euros ($2.1 million) of European Union funds to build a leisure and conference centre near the capital Prague.