Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

A landslide victory for the 'invisible candidate' in Algeria's Presidential polls

Read more

THE WORLD THIS WEEK

The World This Week - 18 April 2014

Read more

THE WORLD THIS WEEK

The World This Week - 18 April 2014 (part 2)

Read more

MEDIAWATCH

Presidential adviser resigns over "shoe-shine scandal"

Read more

#THE 51%

Breaking stereotypes

Read more

#TECH 24

Galaxy S5 v. HTC One (M8): Which is the right one for you?

Read more

FRANCE IN FOCUS

New PM Manuel Valls outlines priorities

Read more

FASHION

Jean-Marc Loubier, bags and shoes.

Read more

ENCORE!

Hip-hop musician Beat Assailant on mixing the sounds of the city

Read more

  • French journalists abducted in Syria freed

    Read more

  • Le Pen’s National Front fail to woo Britain’s Eurosceptics

    Read more

  • South Korea ferry captain defends decision to delay evacuation

    Read more

  • In pictures: French kite festival takes flight

    Read more

  • VIDEO: Anti-Semitic leaflets in Eastern Ukraine condemned

    Read more

  • In pictures: Good Friday celebrated across the globe

    Read more

  • Bouteflika, the ghost president

    Read more

  • Does Valls’ upcoming Vatican trip violate French secularism?

    Read more

  • Ukraine separatists say ‘not bound’ by Geneva deal

    Read more

  • Abel Ferrara’s hotly awaited DSK film to premiere on web

    Read more

  • Obama signs bill to block controversial Iran diplomat from UN post

    Read more

  • Ukraine: ‘One bloody incident could scupper Geneva deal’

    Read more

  • Astronomers discover Earth-like planet that could support life

    Read more

  • Indian election: Votes for sale

    Read more

  • World honours Garcia Marquez’s magical literary legacy

    Read more

  • In pictures: Iranian woman pardons son’s killer at the gallows

    Read more

  • Algeria's ailing Bouteflika clinches fourth term amid fraud claims

    Read more

  • Top Hollande adviser resigns over conflict of interest accusation

    Read more

  • West African Ebola outbreak caused by new strain of virus

    Read more

  • Mob launches deadly attack on UN shelter for S. Sudan civilians

    Read more

  • Stagehand of God? Maradona's legendary goal inspires a play

    Read more

France

Orange CEO questioned in case linked to IMF's Lagarde

© AFP

Text by FRANCE 24

Latest update : 2013-06-10

Stéphane Richard, CEO of French telecoms company Orange and former chief of staff for ex-finance minister Christine Lagarde, was questioned Monday in connection with a probe into a multi-million euro payout to businessman Bernard Tapie.

French police detained Stéphane Richard, the CEO of French telecommunications firm Orange, for questioning on Monday in what is the latest twist in the so-called “Tapie Affair”, a judicial investigation into a controversial multi-million euro payout made to French businessman Bernard Tapie.

The case has been an embarrassment for France as a number of prominent French figures, including former finance minister and current International Monetary Fund chief Christine Lagarde, have found themselves embroiled in the investigation.

Richard served as Lagarde’s chief-of-staff during her tenure as finance minister for former president Nicolas Sarkozy from 2007 until 2011. A spokesperson for Richard said that the questioning could last up to 48 hours before an official decision is made on whether to place him under investigation. Orange has declined to comment on the incident.

The massive cash settlement awarded to Tapie followed a dispute between the disgraced tycoon and partly state-owned bank Crédit Lyonnais over the 1993 sale of his stake in sports empire Adidas.

An arbitration panel upheld Tapie's claim that Crédit Lyonnais had defrauded him by intentionally undervaluing Adidas at the time of the sale and that the state, as the bank's principal shareholder, should compensate him.

It was Lagarde who, in her role as French finance minister at the time, ordered the case to be heard by the panel.

Lagarde, who has always denied any wrongdoing, was questioned in May over her role in approving the arbitration process but avoided being charged. She was instead given the less compromising status of “assisted witness”.

Investigators have been probing whether Tapie, who served as a junior minister under Socialist former president François Mitterrand, received favourable treatment in return for having supported ex-president Nicolas Sarkozy in the 2007 presidential election.

(FRANCE 24 with wires)

 

Date created : 2013-06-10

  • FRANCE

    Judge, lawyer questioned in case linked to IMF’s Lagarde

    Read more

  • FRANCE

    IMF chief Lagarde dodges formal investigation in court

    Read more

  • FRANCE

    IMF chief Lagarde returns to court for questioning

    Read more

Comments

COMMENT(S)