Agrofert trust transfer designed to feign small and medium-sized enterprise (SME) eligibility for EU subsidy, according to EU report

A Czech politician transferred ownership of a business conglomerate to two trust funds, ostensibly to comply with conflict-of-interest rules. An EU report concluded the transfer was designed to feign SME eligibility for a farm which had received a EUR 1.67 million EU subsidy in 2008. The company's subsidiaries continued to receive EU subsidies throughout.

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