CONTACT US

For any general inquiries, please fill in the following contact form:

Our websites never use cookies or other technologies such as pixel tags and web beacons. We only retain personal information when the contact section of our websites is filled. To proceed and get in touch with us through this format please read our Terms & Conditions, updated to be in line with the provisions of the GDPR, and tick this box to consent in us retaining the above information for contacting purposes only.

SUBMIT

France’s ex-budget minister found guilty of tax fraud, money laundering

France’s ex-budget minister found guilty of tax fraud, money laundering

Former French Budget Minister Jérôme Cahuzac on Tuesday was found guilty on charges of tax fraud and money laundering.

A Paris Court of Appeals sentenced Cahuzac, who served under former President François Hollande, to four years in prison, two of which are suspended, and slapped him with a €300,000 fine.

The former minister is unlikely to serve out his two-year custodial jail sentence, however, as he is eligible for “adjustments,” according to AFP. He will be barred from holding public office for five years.

The decision comes after an initial ruling in 2016 sentencing Cahuzac to three years in prison, which he later appealed. French judges estimate the amount hidden from tax authorities to be €3.5 million, Le Monde reported.

Cahuzac’s illegal fiscal activities were first made public in a 2012 investigation by French news site Mediapart, which reported he had failed to declare to fiscal authorities money kept in a Swiss bank account for close to 20 years.

Cahuzac denied the allegations at the time but was later forced to admit his involvement. He resigned from his position in early 2013.

Source: www.politico.eu


MORE NEWS

New Panama Papers Leak Reveals Firm’s Chaotic Scramble To Identify Clients, Save Business ...

New Panama Papers Leak Reveals Firm’s Chaotic Scramble To Identify Clients, Save Business Amid Global Fallout
On March 9, 2016, employees of Mossack Fonseca, a Panamanian law firm that for decades had kept the financial secrets of global celebrities,...

Dodgy dating sites use tax haven overseas to slip by police

Dodgy dating sites use tax haven overseas to slip by police
A shifty character named “Kariya” helped shady online dating sites avoid the law in Japan by establishing their headquarters abroad with ...

US Treasury Department targets Singapore for money laundering

US Treasury Department targets Singapore for money laundering
Last month, the Asia Sentinel reported that the US Treasury Department has initiated a wide-ranging campaign against money laundering ...

Who's behind the blog

Who's behind the blog

SOCIAL MEDIA