An audit of the European Commission has found that the Czech prime minister and billionaire Andrej Babis, has a conflict of interests in his former business empire that he has put into trust funds. Babis has denied the allegations.

The report, however, would confirm that Babis still had ties with his former businesses, while having influenced decisions on the EU subsidies they have received.

If the claims of conflict of interest are found to be true, the Czech Republic might have to repay EU funds.

The Commission said it had sent the investigation results to the Czech authorities, but said the audit procedure was ongoing and the contents were confidential.

The Czech finance ministry also explained that the report was preliminary, and that the contents will remain confidential until final the conclusions are reached.