The preliminary investigation was opened in 2020 by the National Financial Prosecutor’s Office for “organized gang manipulation of prices, active and passive private corruption” and “insider trading”.
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The custody of the CEO of Casino was lifted Thursday, June 1, in the evening, learned franceinfo, from a close source. There is no prosecution at this stage. The preliminary investigation is continuing.
>> Consumption: the Casino brand in turmoil
Jean-Charles Naouri had been placed in police custody the same day, in the morning, in the premises of the financial brigade (BF) of the Parisian judicial police. This custody took place as part of an investigation opened in February 2020 by the National Financial Prosecutor’s Office (PNF) for “organized gang price manipulation”, “private and passive active corruption” as well as “insider trading committed during 2018 and 2019”.
The Casino group published poor figures for its first quarter of 2023, with sales down 2.3% in France in a context of high inflation. Its debt has not decreased compared to the end of 2022, stable at 4.5 billion euros. The group’s financial results are weighing on Casino’s share price, which was close to 80 euros in the mid-2010s and is trading around 7 euros today.
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