France: French ex-budget minister who fought tax evasion jailed for tax fraud

Author(s): UNK | Date: December 8, 2016 | Language: English
Source: http://www.straitstimes.com/ | URL: https://goo.gl/4JvBDE | Type: Text

Former French budget minister Jerome Cahuzac, whose brief in government was to crack down on tax dodgers, was sentenced to three years in prison on Thursday (Dec 8) for tax fraud and money laundering.
Cahuzac’s ex-wife Patricia Menard was given a two-year prison sentence for her role in stashing millions of euros abroad from the couple’s lucrative hair transplant business.
The Paris court also gave Francois Reyl, a Swiss banker, a one-year suspended prison sentence and fined him 375,000 euros (S$573,398) for assisting the couple.
His bank, Reyl, was fined 1.87 million euros for money laundering.
Cahuzac, a 64-year-old plastic surgeon, had admitted in evidence that he hid funds offshore to maintain his family’s standard of living – which included buying apartments for his children in London and Paris and paying for holidays in Mauritius.

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