Crédit mutuel-CIC

Haiti: the dark history of French colonial banks resurfaces

Banques — Investigation

In its recent powerful investigation into the exploitation of Haiti by France in the colonial past, The New York Times highlighted the predatory role played by the bank Crédit Industriel et Commercial. In fact, reports Laurent Mauduit, all French colonial banks practiced this same pillaging system of exploitation in Asia, Africa and the Antilles.
by Laurent Mauduit

The 'money laundering left and right' at a Monaco subsidiary of Crédit Mutuel-CIC

International — Investigation

Mediapart has obtained documents and witness accounts that provide evidence of money laundering by the Banque Pasche de Monaco while it was a subsidiary of French banking giant Crédit Mutuel-CIC. Among the affluent clients of the small bank, based in the Principality of Monaco, is Ricardo Teixeira, a former member of the executive committee of the international football governing body FIFA and who headed Brazil’s World Cup organization committee, implicated in a series of fraud and corruption cases and who deposited more than 30 million euros on his account. A judicial investigation is now underway into the bank’s dubious practices, which were revealed to the Crédit Mutuel-CIC group’s senior management by three whistleblowing staff - who were subsequently sacked, just months before the Monaco bank was sold off last November. Geoffrey Livolsi, Dan Israel and Fabrice Arfi report.
by Geoffrey Livolsi, Dan Israel et Fabrice Arfi