Arnaud Lagardère Resigns as Chairman and CEO of Lagardère Group
French Business Scion Charged with Money Laundering and Corruption
Prosecutors Allege Lagardère Used Offshore Accounts to Conceal Assets
Arnaud Lagardère, the French business tycoon who heads Lagardère Group, a publishing and media conglomerate, has resigned as chairman and CEO following preliminary charges filed by French financial prosecutors. The charges include money laundering, corruption, and misuse of company assets.
Prosecutors allege that Lagardère used offshore accounts to conceal assets and evade taxes. They also claim that he engaged in corruption by offering bribes to secure favorable treatment for his businesses. Lagardère has denied all charges and has stated that he will vigorously defend himself against them.
Lagardère's resignation comes as a significant blow to the Lagardère Group, which has been controlled by his family for nearly a century. The charges against Lagardère have raised questions about the future of the group and its various subsidiaries, which include Hachette Livre, Europe 1, and Le Journal du Dimanche.
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