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France's former tax Tsar sentenced to three years in jail for tax fraud
Former French budget minister Jerome Cahuzac, who resigned in 2013 after he admitted to having a Swiss bank account, leaves after the verdict in his tax fraud trial at the courtroom in Paris CREDIT: PHILIPPE WOJAZER/REUTERS
Aformer French minister who led a crackdown on tax evasion was on Thursday sentenced to three years in prison for hiding millions in offshore accounts, in a scandal that rocked Franois Hollandes presidency.
A Paris court found Jerome Cahuzac, a cosmetic surgeon by trade who was made budget minister when Mr Hollande won power in 2012, guilty of tax fraud and money laundering.
The crime was of exceptional gravity as it was committed by the man who embodied Frances tax policy, said presiding judge Peimane Ghaleh-Marzban when announcing the verdict.
A Paris court found Jerome Cahuzac, a cosmetic surgeon by trade who was made budget minister when Mr Hollande won power in 2012, guilty of tax fraud and money laundering.
The crime was of exceptional gravity as it was committed by the man who embodied Frances tax policy, said presiding judge Peimane Ghaleh-Marzban when announcing the verdict.
Photo taken on November 20, 2012 shows then French Junior Minister for Budget, Jerome Cahuzac speaking during a press conference on tax evasion in Paris CREDIT: FRANCOIS GUILLOT/AFP
The 64-year-old left the courthouse stony-faced and without commenting. His lawyer, Jean Veil, said he would appeal, adding: "Three years is too heavy.
Mr Cahuzac, who ran a lucrative hair transplant clinic and conducted consultancy work for drugs companies before becoming a minister, resigned in disgrace in 2013.
After repeatedly denying the existence of offshore funds, even saying he was happy to look France in the eyes to swear he had done no wrong, he later issued a spectacular mea culpa, admitting to having held an undeclared account over 20 years, first in Switzerland and later in Singapore.
Mr Cahuzac, who ran a lucrative hair transplant clinic and conducted consultancy work for drugs companies before becoming a minister, resigned in disgrace in 2013.
After repeatedly denying the existence of offshore funds, even saying he was happy to look France in the eyes to swear he had done no wrong, he later issued a spectacular mea culpa, admitting to having held an undeclared account over 20 years, first in Switzerland and later in Singapore.
Former French budget minister, Jerome Cahuzac lied to parliament by telling MPs he had no offshore accounts was sentenced to three years in jail CREDIT: LIONEL BONAVENTURE/AFP
He was also expelled from the Socialist Party, of which he been a member since the 1970s.
Mr Hollande, whose term ends in May 2017 and who said last week he would not seek a second one, at the time condemned what he called an unforgivable moral error.
Mr Cahuzac former wife, Patricia Menard, was also found guilty of 20 years rooted in fraud and sentenced to two years in jail.
In all around 3.5 million euros of funds were found to have been stashed in foreign accounts, with the former Mrs Cahuzac hiding 2.7 million in one on the Isle of Man.
Along with sumptuous holidays in Corsica, the court heard how the pair spent much of their ill-gotten gains on buying flats for their children in London.
The pair, whose hair transplant customers featured a string of balding stars, have already paid back taxes and penalties totalling some 2.5 million euros.
Reyl bank of Geneva was also fined 1.875 million euros for money laundering, with its director and a fiscal lawyer receiving fines and suspended sentences.
Mr Hollande, whose term ends in May 2017 and who said last week he would not seek a second one, at the time condemned what he called an unforgivable moral error.
Mr Cahuzac former wife, Patricia Menard, was also found guilty of 20 years rooted in fraud and sentenced to two years in jail.
In all around 3.5 million euros of funds were found to have been stashed in foreign accounts, with the former Mrs Cahuzac hiding 2.7 million in one on the Isle of Man.
Along with sumptuous holidays in Corsica, the court heard how the pair spent much of their ill-gotten gains on buying flats for their children in London.
The pair, whose hair transplant customers featured a string of balding stars, have already paid back taxes and penalties totalling some 2.5 million euros.
Reyl bank of Geneva was also fined 1.875 million euros for money laundering, with its director and a fiscal lawyer receiving fines and suspended sentences.
French President Francois Hollande (L) speaking with then budget minister, Jerome Cahuzac, in 2012 CREDIT: ANA AREVALO/AFP
The Cahuzac scandal was the first to taint Mr Hollandes presidency and pledge to uphold an irreproachable republic.
It prompted him to order his ministers to disclose their personal wealth for the first time in France.
http://www.telegraph.co.uk/news/201...ax-tsar-sentenced-three-years-jail-tax-fraud/
It prompted him to order his ministers to disclose their personal wealth for the first time in France.
http://www.telegraph.co.uk/news/201...ax-tsar-sentenced-three-years-jail-tax-fraud/
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