Václav Klaus’ CEP think tank entrusted money to dodgy brokerage

Key Investments found a buyer for unsellable assets it managed for Klaus’ think tank; Prague districts 6 and 10 left in the lurch

HOT TOP|Markets & Finance|Companies
István Léko | 04.01.2012
CEP won’t say how much or into what, exactly, it invested in via the brokerage

Czech Position has learned that the Center for Economics and Politics (CEP), the think tank founded by President Václav Klaus in 1998 after he stepped down as prime minister, entrusted money to Key Investments, an opaque brokerage under investigation by the central bank — and got most of it back. Meanwhile, two Prague city districts have yet to see huge sums of taxpayers’ money sunk into junk and illiquid bonds returned.

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Corruption infects Klaus & ODS

It does not take a genius to understand that corruption is a central part of this story. The Czech taxpayers get stuck paying for the losses caused by this Klaus/CEP/ODS ring of suspects, while the suspects themselves (Klaus/CEP/ODS) plead innocence... and they walk away with the money! Does anyone believe them? I don't think so. Once again, a ring of connected politicians, bureaucrats, lawyers and businessmen are ripping off Czech taxpayers.

 

I really do miss Vaclav Havel, a leader who could be trusted.  

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