#Criminal tax law:
Court dismisses tax fraud money laundering investigation against the Mulliez empire
A dismissal order has been rendered on 14 August 2024 by the investigative judge in relation alleged laundering of tax fraud within the Mulliez group. The case emerged in 2012 when a complaint reported suspicious loans to foreign companies and individuals. During the investigation, several people, including Jérôme and Thierry Mulliez, were indicted for breach of trust and laundering of tax fraud. The investigation focused on the complex financial schemes of the group, comprised of non-commercial companies and holding companies managing the stores. The National Financial Prosecutor’s Office did not appeal the dismissal order, unlike the original plaintiff. > Read article
#AMF litigation:
BlackRock accused of “misleading investors” with some of its sustainable “investments”
British environmental NGO ClientEarth filed a complaint against BlackRock with the French Financial Market Authority (“AMF”) on 16 October, accusing the asset manager of greenwashing practices in representing certain allegedly sustainable investment funds. The complaint relies on a report by Reclaim Finance revealing that funds presented as sustainable, representing over a billion US dollars, were in fact exposed to fossil fuel companies. ClientEarth claims that this practice “misleads investors” and leads to a distortion of competition. According to BlackRock, its “funds are managed in compliance with their investment objectives” and comply with applicable regulations. > Read article
#White-collar crime:
In Peru, former President Alejandro Toledo sentenced to twenty years imprisonment for corruption
The former President of Peru, Alejandro Toledo, has been sentenced on 21 October to twenty years imprisonment for corruption and money laundering by a tribunal in Lima. This sentence has been rendered in connection with the corruption case around the Odebrecht company. This company is at the center of the anti-corruption operation “Lava Jato” which led to numerous criminal convictions in Latin America and around the world. > Read article
#International Commercial dispute:
Antitrust: Court Orders Google to Pay €26.8 Million to French Adtech Company Equativ
The Paris Commercial Court has ordered Google to pay 26.8 million euros damages to French adtech company Equativ for anticompetitive practices in the online advertising sector. The ruling finds Google guilty of abusing its dominant position by favoring its own services at the expense of competitors such as Equativ. The court determined that Google had distorted the market by taking advantage of its vertical integration, thus penalizing competition. Google faces a similar lawsuit in the United States, where a potential breakup of its adtech operations is being considered. > Read article
