Keyword: money laundering

French prosecutors recommend ex-IAAF boss Diack stand trial

The French prosecution services have advised that Lamine Diack, the Senegalese former head of the International Association of Athletics Federations between 1999-2015, stand trial with his son for alleged corruption and money laundering.

Russian billionaire senator placed under investigation in France

Suleiman Kerimov, a Russian senator whose family Russia’s biggest gold producer, Polyus, has been released on bail of 5 million euros and had his passport confiscated by magistrates in Nice who have placed him under investigation for suspected money laundering and tax fraud in connection with property deals on the French Riviera.

Paris court finds Equatorial Guinea vice-president guilty of money laundering

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A French court on Friday handed Teodorin Obiang, vice-president of Equatorial Guinea and son of the country’s president, a three-year suspended prison sentence and a suspended fine of 30 million euros after he was found guilty in absentia of money laundering wealth embezzled from the African state’s public funds. The presiding magistrates, who in their ruling underlined the initial reticence of French prosecutors to bring Obiang to trial,  also ordered the confiscation of his assets in France, estimated to be worth 150 million euros, including a vast Paris townhouse and a fleet of luxurious cars. Michel Deléan reports.

The Malta Files: lifting the lid on a tax haven that costs Europe a fortune

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St.George's Square in the Maltese capital Valletta. © Reuters St.George's Square in the Maltese capital Valletta. © Reuters

Malta, which currently heads the European Union's rotating presidency, relies on more than tourism as a source of revenue. Its secretive financial structures and generous tax schemes serve to make it one of the EUs most attractive havens for tax avoidance and money laundering by individuals and corporations and which cost other countries billions of euros in lost revenues, reveals a four-month investigation by Mediapart and its partners in the European Investigative Collaborations journalistic collective (EIC).

Net closes in on Sarkozy law firm partner in tax fraud and money laundering probe

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Patrick Balkany (L) and Nicolas Sarkozy in 2007. © Reuters Patrick Balkany (L) and Nicolas Sarkozy in 2007. © Reuters

A French judicial investigation has described the “active role” played by Arnaud Claude, the partner of Nicolas Sarkozy in a Paris legal firm, Claude & Sarkozy, in helping an MP and longstanding political ally of the former French president, Patrick Balkany, to conceal from the French tax authorities his ownership of a luxurious Moroccan villa estimated to be worth more than 5 million euros. As the investigation draws to a close, the magistrates in charge have ordered the confiscation of a Normandy property belonging to the lawyer, Mediapart has learned. Fabrice Arfi and Mathilde Mathieu report.

Former French budget minister Cahuzac in court over tax fraud claims

Ex-minister on trial in Paris on charges of tax fraud and money laundering that saw him forced to quit in 2013 in major political scandal.

Police question French minister’s son in money-laundering probe

Thomas Fabius, son of Laurent Fabius who chaired climate conference, taken into custody after concerns over funding of €7m Paris flat.

The detail of the hidden assets that landed Guy Wildenstein in the dock

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One of the world’s most prominent art dealers, Guy Wildenstein, is to stand trial in Paris next month on charges of tax fraud and money laundering. The case centres on undeclared assets from the estate of his late father Daniel Wildenstein, for which Guy Wildenstein and other members of his family have received a record tax adjustment totalling 550 million euros. Mediapart has gained access to the judicial document detailing the case for the trial, and which reveals the staggering sums involved and the complex offshore structures that hid, among other assets, a stash of prized artworks. Laurent Mauduit reports.

France denies UK claims it blocked use of HSBC data to pursue bank and criminals

The French finance minister has denied UK government claims that it was refused permission to use leaked bank files to bring prosecutions.

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

By Geoffrey Livolsi, Dan Israel Et Fabrice Arfi
Deux hauts dirigeants de Pasche, Jürg Schmid et Christophe Mazurier, pour les 125 ans de la banque en 2010. © DR Deux hauts dirigeants de Pasche, Jürg Schmid et Christophe Mazurier, pour les 125 ans de la banque en 2010. © DR

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.

Comedian Dieudonné in money laundering probe

French detectives suspect controversial comic laundered hundreds of thousands of euros via Africa as showdown looms over his 'banned' show.

Money laundering fears over French vineyard sales

French anti-money laundering investigators raise alarm over recent Chinese, Russian and Ukranian acquisitions of loss-making vineyards.

Well-heeled Parisians caught in Moroccan drug traffic bust

Police in France and Switzerland arrest 20 people, including a Paris politician, on suspicion of laundering some 40m euros of drug traffic cash.

Sailing away on 'ill-gotten gains'

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Teodoro Nguema Obiang Mangue, high-living son of the president of Equatorial Guinea and vice-president of the country, wanted by France and the United States on charges of money-laundering and embezzlement, is on the point of purchasing one of the world’s largest luxury yachts (pictured) for the sum of 200 million dollars. Mediapart has discovered that a company was especially set up in Equatorial Guinea to carry out the acquisition of the vessel from the family of the late Saudi crown prince Sultan bin Abdulaziz Al Saud. It is a remarkable snub to a French judicial investigation into so-called 'ill-gotten gains' of several African leaders and which has uncovered compelling evidence that Obiang Mangue and his father have acquired massive personal fortunes through illegally stripping the assets of the small west-central African state, where an estimated 75% of the population live below the poverty line. Fabrice Arfi reports.