Documents place SocGen execs in question over Libyan corruption scam


Giant French banking group Société Générale has admitted corrupting Libyan officials under the regime of late dictator Muammar Gaddafi to gain contracts worth more than 2 billion dollars. The scam involved paying vast secret commissions to a businessman intermediary via his offshore company based in Panama. In a 2017 statement recognising its role, the bank said that it “wishes to place on record its regret about the lack of caution of some of its employees”, but documents now obtained by Mediapart suggest the operation may have been validated at the highest level of the group’s management. Fabrice Arfi reports.

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Senior management at the French banking giant Société Générale validated the payment of vast secret commissions via tax havens as part of an operation to corrupt Libyan officials in order to gain lucrative contracts in the country, documents obtained by Mediapart suggest.