Controversy at the heart of the scandal. The former CEO of Orpea, Yves Le Masne, sold his shares in the group before the publication of the investigative book The Gravediggers, which points to serious dysfunctions in the management of several nursing homes in France according to revelations from the chained duckdated February 2, 2022.
According to the newspaper, Yves Le Masne knew: the ex-CEO of Orpea was aware well before everyone of the current writing of Victor Castanet’s shocking book. From the end of June 2021, the journalist had sent by email a long list of questions, which remained unanswered, to the management of the group specializing in the reception of seniors.
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According to the palmipede, the leader, laid off and replaced on Monday January 31, gradually sold all of his 5,456 shares, during three separate operations started in July 2021. Yves Le Masne, until his dismissal, led since February 2011 “La Sociée” listed on the stock exchange, and regularly sold shares of the company. As required by procedure, he informed the Autorité des marchés financiers of this stock market action:‘AMF is responsible for observing the regularity of this type of operation, the conditions of which are very much regulated by law, recalls a specialist in the sector.
It is moreover to the AMF that Philippe Charrier, the new CEO of Orpéa, sent: “Of course we have been informed of this since there is a report that is submitted to the AMF for any transaction carried out by managers on a group share. The authorities will examine this case with the person concerned. He may have good reasons, which I don’t know, but I certainly won’t judge him for the authorities..” he said on BFMTV.
The operation brought in Yves Le Masne nearly 590,000 euros: the action, which quoted 107.80 euros at the time, has collapsed since the scandal to reach 40 euros on Tuesday evening. These revelations could be akin to a “insider trading“, underlines Le Canard enchaîné.
A revelation that shocks the executive: the minister responsible for the autonomy of the elderly, Brigitte Bourguignon, denounced that the leaders of the Orpea group do not “don’t question themselves” and demonstrate a “pure cynicism“.”We are there at the heart of a system, I think“, commented on LCI the minister, questioned on the information of the Canard enchaîné.
The two main leaders of the group, whom she “summoned” to her office on Tuesday, “do not question themselves, seem to say that they have explanations for everything, proofs for everything“, also lamented the minister, who announced the opening of an administrative investigation and a financial investigation.