The CEO of the Lagardère group, Arnaud Lagardère, suspected of having drawn on the accounts of his companies to finance his lifestyle and personal expenses for several years, was indicted on Monday April 29 by an investigating judge in Paris.
At the end of a day of interrogation, he was indicted for “dissemination of false or misleading information, vote buying, abuse of corporate assets and abuse of power, and non-filing of accounts”, a specified a judicial source. “He was placed under judicial supervision with a ban on management and the obligation to provide a bond of 200,000 euros. »
The 63-year-old businessman was questioned as part of a judicial investigation opened by the National Financial Prosecutor’s Office (PNF) in April 2021 on the basis of a complaint from the Amber Capital fund, a report from the Financial Markets Authority (AMF) as well as a report from the High Council of Auditors (H3C, now the High Audit Authority, H2A).
Arnaud Lagardère, who inherited the empire built by his father, Jean-Luc Lagardère, upon his death in 2003, is suspected of having “financed his lifestyle and personal expenses by drawing on the funds of Lagardère companies SAS and Lagardère,” detailed a judicial source to Agence France-Presse (AFP). For several years, these companies “in particular would have taken charge of expenses linked to the buildings he occupies as well as an inheritance debt, and numerous current account advances”. The acts were committed between April 2009 and December 2022.
In November 2019, La Lettre (formerly Letter A) revealed that Mr. Lagardère refused to publish the accounts of his personal holding company, Lagardère Capital
According to a source close to the case, the case is based on accounting irregularities, which remained within the scope of Arnaud Lagardère’s personal companies, and which did not result in financial damage for the Lagardère group (media, publishing, distribution in train stations and airports).
« Anomalies significatives »
The former deputy general director, Pierre Leroy, pillar of the group, was indicted on April 10 for “vote buying, complicity in abuse of corporate assets and presentation of inaccurate annual accounts,” indicated the judicial source, confirming partial information from Liberation. Asked by AFP, his lawyer Céline Lasek did not wish to react.
Two auditors were indicted in March for complicity in misuse of corporate assets. One, also prosecuted for presentation of inaccurate accounts and non-disclosure of criminal facts, was struck off by the H3C in April 2023 for “having certified, without reservation” the accounts from 2014 to 2018 despite “significant anomalies”, according to the decision consulted by AFP. He contests his removal. “He considers that he did his job in accordance with the rules. He committed no fault, either ethical or, a fortiori, criminal,” declared his lawyer, Frédérique Baulieu.
The gendarme of the audit office launched an investigation at the end of 2019 and notably revealed 202 million euros in irregular financial flows between 2014 and 2018, including 42 million euros in current accounts debited by two real estate companies ( SCI), 32 million euros in inheritance debt and 6 million euros in current account debit from Arnaud Lagardère.
In the decade following the death of Jean-Luc Lagardère, his heir fell into debt, sold the EADS aerospace branch and sold several media outlets. In 2021, he renounced share sponsorship, a status created by his father which allowed them both successively to lead the Lagardère group with less than 10% of the capital, thus precipitating the dismantling of the family empire. In November 2023, the Bolloré family and its media and publishing giant, Vivendi, took control of the Lagardère group.
Another aspect of this affair concerns a general meeting of the Lagardère group in May 2018, during which Qatar, the reference shareholder, made an about-face at the last moment by changing its vote, initially in favor of Amber Capital, to finally support governance. This vote took place as part of the struggle for influence between Vincent Bolloré, ally of Amber Capital, and Bernard Arnault, CEO of LVMH, who supported Arnaud Lagardère.
