Sarkozy's luxury apartment and the mystery 'loan' of 457,000 euros

According to his own official declaration, President Nicolas Sarkozy has a personal wealth of 2.7 million euros. But mystery surrounds the financing of a property acquisition upon which a large part of the president’s private fortune is founded. Sarkozy has claimed that the purchase in 1997 of a luxurious apartment, which he sold in 2006 for 1,933,000 euros, was made possible thanks to a loan, when he was an MP, of some 457,000 euros from a financial service run by the French parliament. However, Mediapart can reveal that the loan is not mentioned, as it should be, in the sale agreement, published here. Furthermore, MPs were not entitled to a loan of more than 196,000 euros at the time of the purchase. Mathilde Mathieu and Michaël Hajdenberg report.

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President Nicolas Sarkozy has a personal wealth of 2.7 million euros, according to his own declarations made to the French constitutional council (Conseil constitutionnel) and published on March 24th in the Journal officiel, the country’s gazette of official and legal record.