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France

France’s ex-budget minister faces probe over assets

© AFP

Text by FRANCE 24

Latest update : 2013-09-12

France’s disgraced former budget minister Jérôme Cahuzac was in trouble again on Wednesday when he was placed under formal investigation for allegedly failing to fully disclose his financial holdings to the state, according to a judicial source.

France’s former budget minister Jérôme Cahuzac was hit with yet another formal investigation in connection to a tax evasion scandal, but this time for allegedly failing to disclose all of his financial assets to the state, judicial sources said on Wednesday.

Cahuzac resigned from government on March 19 amid an embarrassing investigation into allegations he had stashed money away in a Swiss account. In the months leading up to his departure, Cahuzac adamantly denied the reports, which first surfaced on the French investigative site Mediapart in late 2012.

However, just two weeks after stepping down, he publicly admitted to having concealed 600,000 euros in a UBS account in Switzerland for over two decades, shocking much of the country. Cahuzac was placed under formal investigation for tax evasion and financial fraud.

The scandal came as a huge blow to President François Hollande at the time, who had campaigned less than a year before on running a squeaky-clean government.

It now looks as though Cahuzac’s legal woes are far from over, as he faces further questions over his wealth.

If he is found guilty of having lied to the state about his assets while serving as a member of government, he could face a maximum fine of 30,000 euros, as well as lose his right to occupy public office or vote.

(FRANCE 24 with wires)

Date created : 2013-09-11

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