Connect with us

Hi, what are you looking for?

Smart Investment StepsSmart Investment Steps

Investing

Former French President Nicolas Sarkozy sentenced to five years in Libya corruption case

Former French President Nicolas Sarkozy has been sentenced to five years in prison after being found guilty of criminal conspiracy in a scheme to finance his 2007 presidential campaign with Libyan funds, The Associated Press reported Thursday.

The ruling marks the first time in modern French history that a former president will serve time behind bars. 

The court in Paris said Sarkozy, 70, would not be taken into custody immediately but will begin serving his sentence on a date to be determined later.

‘If they absolutely want me to sleep in prison, I will sleep in prison. But with my head held high. I am innocent. This injustice is a scandal,’ Sarkozy said outside the courthouse with his wife, singer and model Carla Bruni-Sarkozy, according to the AP. 

‘What they humiliated today is France,’ he insisted. 

The panel of judges found Sarkozy guilty of criminal association between 2005 and 2007, when he served as interior minister. 

He was also found guilty of permitting close aides to seek campaign money from Libya in exchange for diplomatic favors during the rule of late dictator Muammar Gaddafi.

He was however acquitted of three other charges, including passive corruption and illegal campaign financing.

In court, chief judge Nathalie Gavarino also said the conspiracy aimed ‘to prepare an act of corruption at the highest possible level in the event that you were elected President of the Republic,’ the AP reported. 

She also described the facts as ‘exceptionally serious’ and damaging to public trust in democratic institutions.

Sarkozy, who led France from 2007 to 2012, had rejected the allegations during the three-month trial, calling them an ‘idea’ pushed by aides without his approval. 

‘I am being convicted for supposedly allowing my staff to pursue the idea — the idea of illegal financing,’ he said.

Two of Sarkozy’s longtime allies were also convicted Thursday. 

Former Interior Minister Brice Hortefeux received a two-year sentence to be served under electronic monitoring.

Claude Guéant, Sarkozy’s ex-chief of staff, was sentenced to six years in prison but spared immediate incarceration for health reasons. 

Judges said the men had secretly met with Libyan intelligence chief Abdullah al-Senoussi, brother-in-law of Moammar Gadhafi, as part of a ‘corruption pact.’

The court also noted it could not prove Libyan funds directly reached Sarkozy’s campaign but said French law allows conviction if corrupt intent is established, even without a financial transfer.

Sarkozy has since vowed to appeal.

The case traces back to 2011, when Libyan officials claimed Tripoli funneled millions of euros to Sarkozy’s campaign. 

He has also faced multiple legal battles since leaving office, including separate convictions for corruption and illegal campaign financing. 

This post appeared first on FOX NEWS

Enter Your Information Below To Receive Latest News and Articles




    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Stock

    President Donald Trump on Thursday announced a new round of punishing tariffs, saying the United States will impose a 100% tariff on imported branded...

    Stock

    WASHINGTON — Americans are more likely to watch newly released movies from the comfort of their own homes instead of heading out to a...

    Editor's Pick

    Silo Wellness Inc. (CSE: SILO) (‘Silo’ or the ‘Company’), to be renamed Born Defense Inc., is pleased to announce that it has submitted its...

    Stock

    A group of the country’s top economic leaders, including every living former Federal Reserve chair, filed an amicus brief with the Supreme Court on...

    Disclaimer: smartinvestmentsteps.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartinvestmentsteps.com