Societe Generale Investigated in France for Possible Anti-Corruption Breach
07 Novembre 2017 - 04:17PM
Dow Jones News
Societe Generale SA France (GLE.FR) said Tueday that France's
National Financial Office has opened a preliminary investigation on
possible violations of anticorruption laws involving the French
bank's relations with the Libyan Investment Authority.
Societe Generale said it received two legal requisitions in
September and October, and the required documents are being sent to
French authorities.
The bank had paid EUR963 million ($1.11 billion) to the LIA as
part of an agreement reached in May with the Libyan sovereign fund,
which had claimed $2.1 billion from the bank for alleged acts of
corruption. The criminal aspect of this case is now being
investigated by the U.S. Department of Justice.
Last week, during the presentation of its third-quarter results,
the bank announced that it had spent an additional EUR300 million
on litigation provisions.
This story was translated in whole or in part from a
French-language version initially published by L'Agefi, a partner
of Dow Jones & Co.
(END) Dow Jones Newswires
November 07, 2017 10:02 ET (15:02 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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