Press review
3 November 2023

Press review – Week of 30 October 2023

This week, the Navacelle press review looks back at Altice's filing of a civil action in the criminal proceedings in Portugal, and the indictment of a Russian oligarch close to Vladimir Putin for tax fraud laundering. In addition, the European Public Prosecutor's Office and Tracfin have decided to strengthen their cooperation, and finally, a notary has been sentenced to a heavy penalty notably for fictitious employment.

 

#Anti-Bribery and Corruption: Corruption: Altice files a civil case in Portugal

In the corruption case involving the telecoms group’s former shareholder and CEO, Armando Pereira, Altice Group and its Portuguese subsidiary Meo have entered the criminal proceedings in Portugal. They have been granted the status of “assistant to the Central Criminal Investigation Court“, giving them access to certain documents in the case. Mr. Pereira is suspected of eleven offences of corruption and tax fraud, through which he is alleged to have wronged Altice to the tune of over 100 million euros. Though the group has not yet filed a complaint against Mr. Pereira, the affair has led to upheavals in Altice’s organization, with the dismissal of several executives close to Mr. Pereira, the conduct of several internal audits and the sale of several assets, including the French operator SFR. > Read article

 

#Criminal tax law: Russian oligarch Alexeï Kouzmitchev under investigation in France for tax fraud laundering

After two days in police custody, the Russian oligarch, who is close to Putin and has remained in France since March 2022 despite being placed under European sanctions, was indicted on charges of “aggravated tax fraud laundering, presumed laundering and concealed work in an organized gang“. Alexeï Kouzmitchev is suspected of having committed fraud linked to the ownership of real estate in France, of failing to declare income and of having violated the European sanctions imposed on him since March 15, 2022. Despite the public prosecutor’s request to place him in pre-trial detention, Alexeï Kouzmitchev was place under judicial supervision with the obligation to pay bail of 8 million euros and forbidden to leave French territory. > Read article

 

#White collar crime: The European Public Prosecutor’s Office and Tracfin strengthen their cooperation

Tracfin, the French Ministry of the Economy’s financial intelligence unit, and the European Public Prosecutor’s Office have signed a working agreement that provides a structured framework for cooperation between the two bodies. The agreement aims to facilitate the exchange of information on suspicious financial transactions regarding facts and offences falling within the competence of the European Public Prosecutor’s Office. It also underlines the efforts of both parties in the fight against money laundering and underlying offences affecting the financial interests of the European Union. > Read article

 

Five years’ imprisonment and 300,000 euro fine for notary Patrick Postillon on trial in Nice

Patrick Postillon, head of one of France’s largest notary offices in Nice, was sentenced on Tuesday October 31 to five years’ imprisonment, including three years on probation, a fine of 300,000 euros and was confiscated all his personal assets for aggravated money laundering, fraud, fictitious employment and breach of trust by the Nice Criminal Court. Already banned from practice by his peers for 10 years, the Court’s decision also requires him to pay 25,000 euros to each of his former partners who filed civil suits. > Read the article

Related content

Press review
24 May 2024
Press review – Week of 20 May 2024
This week, the press review covers the fine imposed on bank company N26, the trial of EDF and its former...
Press review
17 May 2024
Press review – Week of 13 May 2024
This week, the press review covers the death of Renaud Van Ruymbeke, the conviction of former Mayor of Toulon for...
Event
16 May 2024
Anticorruption initiatives in Latin America: Lessons from the last decade (webinar)
To contribute to the Latin America and Caribbean Weeks event, organised by the French Ministry of Europe and Foreign Affairs...
Publication
14 May 2024
LIR 6th Edition : Focus on ADP INGENIERIE and SEVES Group/SEDIVER CJIPs
Navacelle contributes to The Legal Industry Reviews' sixth edition, focusing on the last two CJIPs (kind of French DPAs) concluded....
Analysis
6 May 2024
Overview of the future European Anti-Money Laundering Authority
The new Authority for Anti-Money Laundering and Countering the Financing of Terrorism will be based in Frankfurt and shall start...
Press review
3 May 2024
Press review – Week of 29 April 2024
This week's press review focuses on the indictments of Arnaud Lagardère for misuse of company assets and abuse of power,...
Press review
26 April 2024
Press review – Week of 22 April 2024
This week, the press review covers the European Parliament’s adoption of the Corporate Sustainability Due Diligence Directive, the definitive conviction...
Press review
19 April 2024
Press review – Week of 15 April 2024
This week, the press review covers the publication of TRACFIN’s 2023 report on professionals’ suspicious transaction reports, the decision of...
Press review
12 April 2024
Press review – Week of 8 April 2024
This week, the press review covers the Panama Papers trial which opened on Monday, 8 April, the decision rendered against...
Press review
5 April 2024
Press review – Week of 1 April 2024
This week, the press review covers the conviction by the American justice system of the crypto assets platform FTX‘s former...
Press review
29 March 2024
Press review – Week of 25 March 2024
This week, the press review covers the opening of proceedings against Google, Apple and Meta by the European Commission for...
Press review
22 March 2024
Press review – Week of 18 March 2024
This week, the press review covers the report of the French Court of Auditors on the financial situation of the...