Monday, January 24

Arbitration by Crédit Lyonnais. Orange boss Stéphane Richard sentenced on appeal to 1 year suspended sentence

Orange boss Stéphane Richard was sentenced this Wednesday on appeal to 1 year suspended prison sentence and a 50,000 euro fine in a soap opera that has lasted for nearly 30 years: the controversial arbitration case in 2008 from Credit Lyonnais.

The current boss of Orange was chief of staff to Christine Lagarde in 2008, when the arbitration was decided. He is accused of having acted behind the back of the minister and in the interest of Bernard Tapie.

The trial at first instance ended in a general acquittal because for the judge, there was nothing to say that this arbitration was fraudulent. But the prosecution appealed and during this second trial, he requested three years in prison, including one year against the boss of Orange.

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