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2mo ago

Former French Spy Chief Convicted for Misusing Public Funds to Aid LVMH

Bernard Squarcini, ex-head of France's domestic intelligence, was sentenced for influence-peddling and surveillance activities benefiting the luxury conglomerate.

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Former French intelligence head Bernard Squarcini (right) is to appeal the verdict
Bernard Squarcini used his officers in the domestic intelligence agency to identify a blackmailer who was targeting Bernard Arnault

Overview

  • Bernard Squarcini, known as 'the Shark,' received a four-year sentence, with two years suspended, and a €200,000 fine for abusing his position to benefit LVMH.
  • Squarcini was found guilty of using public resources to investigate a 2008 blackmail attempt targeting LVMH CEO Bernard Arnault, Europe's richest man.
  • He also conducted unlawful surveillance on François Ruffin, a journalist-turned-politician, during the production of a critical documentary about LVMH.
  • LVMH avoided prosecution by settling the case in 2021 with a €10 million payment, while Arnault denied any knowledge of Squarcini's illegal activities.
  • Squarcini plans to appeal the verdict, which includes a five-year ban on intelligence-related professional activities and home confinement with an electronic tag.