István Léko

Why Czech strategic fuel reserve body ‘special accounts’ remain secret

István Léko — Wed, 11 Jul 2012 12:00:34 +0000

The Supreme Audit Office (NKÚ) has said that to comply with the government’s request to check the books of the Administration of State Material Reserves (SSHR) would be futile, even if it had the full capacity to do so.

Key Investments files for insolvency, remains a threat to Czech elite

István Léko — Tue, 03 Jul 2012 09:37:09 +0000

The opaque brokerage Key Investments — into which nearly Kč 1 billion of public funds has apparently been lost or embezzled —last week filed for insolvency, the news server Týden.cz reported, citing company director Daniel Brzkovský.

‘Mr Clean’ sullies his reputation with Justice Minister’s recall

István Léko — Thu, 28 Jun 2012 11:37:58 +0000

COMMENTARY by István Léko/ Czech Prime Minister Petr Nečas ousted his justice minister and fellow Civic Democrat (ODS) Jiří Pospíšil on Wednesday morning without warning — and apparent provocation. It appears he caved in to pressure within his party, but the majority of voters will likely come out against the move.

Prague 10 politicians resign over Key Investments probe

István Léko — Tue, 26 Jun 2012 09:44:58 +0000

The Czech police’s anti-corruption and financial crimes unit ÚOKFK has been investigating criminal complaints relating to the opaque brokerage Key Investments — into which nearly Kč 1 billion of public funds has apparently been lost or embezzled — for more than a year and a half.

Prague aims to finally take full control of trash firm

István Léko — Fri, 15 Jun 2012 09:32:28 +0000

Prague City Council this week finally approved a resolution of intent to buy a minority stake in the murky municipal waste firm Pražské služby from the Cyprus-registered firm Soranus Limited.

Slavia football stadium: bankruptcy or another murky buyer?

István Léko — Wed, 13 Jun 2012 12:30:32 +0000

E Side Property, which owns the Eden stadium in Prague, is in trouble — virtually bankrupt and with no money to pay off its debts. It faces insolvency proceedings, bankruptcy or the sale to another investor.In terms of uncovering the murky past of E Side Property, the Czech public would welcome either of the first two scenarios.

Why are politicians covering up over Key Investments?

István Léko — Wed, 30 May 2012 07:41:05 +0000

When the scandal around dubious Czech financial brokerage Key Investments exploded in January last year anyone who would have maintained that after some 18 months of police investigations the only person to be charged would be former minister of ind

Another warning message for Key Investments’ clients

István Léko — Wed, 30 May 2012 06:02:41 +0000

The Slovak Poštová banka, controlled by the financial group J&T, is buying up the loans of Spolek pro chemickou a hutní výrobu (Spolchemie) from Czech banks. These are short-term loans that financial institutions (Komerční banka, ČSOB, LBBW, Citibank, Raiffeisenbank and ČSOB) provided the chemical plant with.

Why Čepro will be looking for a new CEO

István Léko — Wed, 23 May 2012 11:58:51 +0000

The general director of the Czech state fuel distributor Čepro has informed Finance Minister Miroslav Kalousek (TOP 09) he plans to step down in December after four years in the post, the daily Lidové noviny reported.

Stadium share at rival beckons for unsuccessful Sparta Prague?

István Léko — Fri, 11 May 2012 11:14:34 +0000

The plaything called Sparta Football Club has already cost its owners around a Kč 1 billion with such expense for poor results on the field surely calling for solutions which could create uproar from its die-hard fans.