France Télécom boss placed under formal investigation in Tapie payout case

Judges suspect Stéphane Richard of conspiracy to commit fraud over his role in a 403-million-euro award in 2008 to tycoon Bernard Tapie.

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Stéphane Richard, chief executive of France Telecom, has been placed under formal investigation by a French court on suspicion of involvement in organised fraud in a highly political case that dates back to his time as a senior official in the finance ministry during the presidency of Nicolas Sarkozy, reports The Financial Times.