A Czech court today acquitted former Prime Minister Andrej Babis of charges of alleged fraud related to EU subsidies, boosting his prospects in this week's presidential election, where he is considered one of the front-runners.

The prosecutor's office requested a fine and a suspended prison sentence for Babis, accusing him of illegally misappropriating about two million euros intended for the construction of a recreation and congress center near Prague.

Babis, who did not attend the sentencing, denied any wrongdoing and crimes from the beginning, and in his closing statement in court on Friday, he said his case was politically motivated.

With his ANO party, which is currently in opposition, the 63-year-old Babis wants to win the presidential mandate and replace his frequent ally Milos Zeman, whose term expires in March. The verdict could increase Babis' prospects in the elections, and according to polls, he is very close to his rivals Petar Pavel and Danusha Nerudova.

The first round of the election takes place on Friday and Saturday and no candidate is expected to win. The second round of elections between the two candidates with the most votes will likely take place on January 27 and 28.