The CEO of the Lagardère group is suspected of having dipped into the accounts of his companies to finance his lifestyle and personal expenses for several years.
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Arnaud Lagardère was indicted on Monday April 29 for “dissemination of false or misleading information”, “vote buying”, “abuse of corporate assets and “abuse of power”, and “non-filing of accounts”, franceinfo learned from a judicial source. Arnaud Lagardère was placed. “under judicial supervision with a ban on management and the obligation to provide a bond of 200 000 euros”, specifies this source.
The CEO of the Lagardère group is suspected of having dipped into the accounts of his companies to finance his lifestyle and personal expenses for several years. Arnaud Lagardère, 63, long at the head of the group founded by his father, is now only a minority shareholder. The Bolloré family, via Vivendi, finalized its takeover of the group at the end of 2023, owner in particular of a network of stores in train stations and airports (Relay, Duty Free), media (Europe 1, Europe 2, RFM, the Sunday Journal And Paris Match) or even the French number one in publishing, Hachette Livres.
Arnaud Lagardère leaves his position as CEO
On Tuesday, the Lagardère group announced that Arnaud Lagardère was relinquishing his executive mandates, including that of CEO. “As part of his indictment, a provisional management ban was issued against Mr. Arnaud Lagardère, a measure which he contests and against which he will appeal,” specifies a press release.
The indictment of Arnaud Lagardère comes as part of a judicial investigation opened on April 30, 2021 by the National Financial Prosecutor’s Office (PNF) for, among other things, misuse of corporate assets and presentation of inaccurate accounts. This judicial investigation was opened on the basis of a complaint from the Amber Capital fund of February 11, 2021, a report from the Financial Markets Authority (AMF) of February 24, 2021 and a report from the High Council of the police station to the accounts of December 8, 2020, which the Paris public prosecutor’s office transferred to the PNF on April 19, 2021.