Orange CEO's home raided by police over Tapie affair

Friday 25 January 2013 | 10:35 CET | News
France Telecom-Orange CEO Stephane Richard's home was raided by police on 24 January as part of investigations into whether government officials were complicit in encouraging payment of damages to French tycoon Bernard Tapie by an arbitration court in 2008 over a 1990s loan from then State-owned bank Credit Lyonnais to enable Tapie to buy Adidas. Tapie alleged that the bank profited fraudulently from the sale of Adidas three years after it granted the loan. Richard was chief of staff to former finance minister Christine Lagarde when the arbitrators awarded EUR 420 million in damages to Tapie,

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Categories: General
Companies: France Telecom / Orange
Countries: France
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