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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


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