Prosecutors opened an investigation last October to see if the French tax administration illegally has one of the country’s largest investment banks worth 2.2 billion euros (US $ 2.5 billion dollars) in The bank’s tax credit for losses was largely responsible for.
The probe was launched after a complaint by one of the leaders of the party of the Greens, Julien Bayou – of the information which was until recently under embargo, David Koubbi, the lawyer in charge of the business, says OCCRP Friday.
“The bank should never have received this money. He has to repay it and those who made the decision (or haven’t had a return) must be held accountable, “Bayou said.
A French anti-corruption organization Anticor said on Tuesday that it joined the plaintiffs by also filing a complaint, stressing that under French law, “a company cannot benefit from a deduction tax as a result of fraud, if it failed in its controls demonstrated manifest shortcomings.
The move marks a new development in the legal saga surrounding an allegedly fraudulent maneuver exchange market by former trader Jérôme Kerviel, which led the bank to record a record US $ 5.5 billion financial loss in 2008.
A first decision saw Kerviel received a five-year prison sentence for his actions, as well as an order to return the US $ 5.5 billion dollars to the bank, but the last part was quashed by the Versailles Court. in 2016.
According to Europe 1, the Court recognized that Societe Generale had a significant share of responsibility in the losses suffered by Kerviel allegedly from the regime, and, therefore, that the shortcomings in the bank of organization, control and security mechanisms consisting of a tort.
Based on this decision, Anticor challenged the $ 2.5 billion tax credit that Societe Generale received to alleviate its damage.
The bank was not a “victim” in the affair, the association claimed. “Its shortcomings made possible or facilitated fraud.”
Anticor said the government should have tried to recover the money after the 2016 decision.
The association wants to “defend the responsible use of public funds and see the inertia of political leaders towards irresponsible banking practices condemned”.