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Former French budget minister Cahuzac found guilty of tax fraud, money laundering

© Thomas Samson, AFP | Former French budget minister Jérôme Cahuzac arrives at the Paris courthouse for the verdict in his tax fraud trial on December 8, 2016.

Video by FRANCE 24

Text by NEWS WIRES

Latest update : 2016-12-08

A former minister who led a French government crackdown on tax evasion was sentenced to three years in jail on Thursday for hiding an offshore bank account of his own, in a scandal that deeply embarrassed President François Hollande.

A Paris court found Jerome Cahuzac, a cosmetic surgeon by trade who was made budget minister when Hollande won power in 2012, guilty of tax fraud and money laundering.

The verdict marks the end of a saga that shocked France and shook Hollande, who promised as he took power that his government would be beyond reproach after years of corruption accusations that dogged his predecessors.

Cahuzac, who specialised in hair transplants and consultancy work for drugs companies before becoming a minister, resigned in disgrace in 2013 when he admitted having held an undeclared account over 20 years, first in Switzerland and later in Singapore.

'Cahuzac's crimes were judged exceptionally serious and rare'

Prior to that he had repeatedly denied the existence of such an account, once in particularly dramatic fashion in a declaration in the lower house of parliament.

After ultimately admitting he had lied, Cahuzac, now 64, was also expelled from the Socialist Party, of which he been a member since the 1970s.

Hollande, whose term ends in May 2017 and who said last week he would not seek a second one, at the time condemned what he called an unforgivable moral error.

Reyl bank of Geneva was also fined 1.875 million euros ($2.02 million) for its part in the affair.

(REUTERS)

Date created : 2016-12-08

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