Press review - Week of 5 May 2025

Press review – Week of 5 May 2025

This week’s press review covers the resignation of François Commeinhes from his position as mayor of Sète, following his final conviction for misappropriation of public funds. It also reports on the discovery of a international money-laundering network operating between France, Monaco and Ukraine, notably linked to arms sales, and on the European Commission's initiation of disciplinary proceedings against a European official for corruption with Qatar. Finally, it looks back at the settlement reached between the US Department of Justice and UBS in the tax fraud case involving its subsidiary, “Credit Suisse”.

#White collar crime:

The mayor of Sète, François Commeinhes, resigns after final conviction for embezzlement

François Commeinhes, mayor of Sète since 2001, has announced his resignation following his final conviction for the embezzlement of public funds. Initially acquitted at trial, the Court of Cassation upheld the Montpelier Court of Appeal’s ruling sentencing him to a one-year suspended prison term, a €15,000 fine, and a five-year ban from holding public office for having signed decrees between 2016 and 2019 that unlawfully increased the salaries of the former Director General of Services and the head of the municipality’s real estate department. He denounces an administrative error caused by a dishonest collaborator. His first deputy will serve as interim mayor until a new one is appointed. > Read article

International operation uncovers large scale scheme laundering hundreds of millions of euros

French, Ukrainian, and Monegasque authorities have uncovered a large-scale money laundering scheme tied to illegal arms sales and the transfer of a majority stake in a Ukrainian defense company to representatives of a foreign state. The suspect, son of the defense company’s owner, is accused of laundering over 57 million euros in illicit profits, notably through real estate acquisitions in France and Monaco. Cooperation between the three countries, coordinated by Eurojust, led to his arrest in Monaco on April 28. The funds have been frozen in France and should be returned to Ukraine. The father is also facing trial in Ukraine for national security crimes and money laundering. > Read article

#Anti-bribery and corruption:

European Union official suspected of corruption by Qatar, proceedings opened

On May 5, 2025, the European Commission announced that it was initiating disciplinary proceedings against EU official Henrik Hololei, on the suspicion of corruption. Hololei is suspected of having received numerous gifts from Qatar between 2015 and 2021, during his tenure as Director-General for Mobility and Transport at the European Commission. During this period, he was in charge of negotiating an “open skies” agreement with the emirate, which aimed at facilitating access to European skies for Qatar Airways. Since Novembre 2024, the European Public Prosecutor’s Office has also opened a criminal investigation. > Read article

#Criminal tax law:

Tax fraud: UBS settles US lawsuit against Credit Suisse

The US Department of Justice and UBS have reached a plea bargaining under which UBS has agreed to pay a $511 million fine in exchange for the US authorities dropping charges against Credit Suisse, a bank acquired by UBS. Credit Suisse was prosecuted for facilitating tax evasion between 2010 and 2021 amounting to $4 billion through offshore accounts in Singapore for its US clients, in particular by exploiting Swiss banking secrecy. UBS, which acquired Credit Suisse after the events in question, stated that it has never been involved in these transactions. > Read article