Free Republic

France’s longest-running political and corporate corruption scandal ended yesterday with prison sentences and fines for 23 former executives at the Elf oil company and their associates.Loik le Floch-Prigent, 57, Elf’s chief executive between 1989 and 1993, authorised the embezzlement of £210 million while Elf was state-owned. The money went on bribes for politicians and middlemen and lavish lifestyles for senior Elf executives.He was jailed for five years and fined £260,000.Nadhmi Auchi, a British billionaire, was given a two-year suspended prison sentence and fined £1.4 million. Auchi, who fled his native Iraq under Saddam Hussein, was found guilty of accepting illegal...

With a cast of characters including a former prime minister, some of the richest executives in France and Germany, Paris' biggest-ever corporate crime trial continued this week with 37 defendants in the dock. France's largest-ever corporate corruption trial resumed in Paris this week with more drama than your average Mexican soap opera. The case offered further tales of illicit backroom dealing, a €5 million divorce settlement tab picked up by French taxpayers and allegations that a former French prime minister accepted bribes in connection with a string of acquisitions made by the state-owned French oil conglomerate Elf Aquitane in the...