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Ziad Takieddine says he paid illegal kickbacks to fund former French PM Edouard Balladur’s failed presidential bid

The Lebanese businessman says he handed over suitcases of cash in Geneva that came from arms deals with Saudi Arabia and Pakistan.

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Lebanese businessman Ziad Takieddine has confessed to having paid illegal kick-backs to fund the presidential campaign of former French prime minister Edouard Balladur, reports The Independent.

It is alleged that kick-backs on an arms deals with Saudi Arabia and Pakistan between 1993 and 1995 helped fund the failed presidential campaign of Mr Balladur in 1995, while former French President Nicolas Sarkozy was Budget Minister and Mr Balladur’s campaign spokesperson.

Mr Takieddine, who is accused of being the middleman, told investigating magistrates he gave kick-backs to one of Mr Sarkozy’s close aides, Thierry Gaubert.

Read more of this report from The Independent.
Read Mediapart's extensive coverage of the background to this story here, here and here.