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France’s former tax Tsar sentenced to three years in jail for tax fraud

byCT Report
28/12/2016
in Uncategorized
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PARIS: A former 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 François Hollande’s 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.

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The crime was of “exceptional gravity” as it was committed by the man “who embodied France’s tax policy,” said presiding judge Peimane Ghaleh-Marzban when announcing the verdict.

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.

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