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3mo ago

Société Générale Raided in Tax-Fraud Inquiry as Executives Freed

The bank faces scrutiny over alleged fiscal schemes dating back to 2009 for clients including Lactalis.

Des perquisitions menées à la Société générale visée par des soupçons de blanchiment d'argent et de fraude
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Ce mardi, à Paris et à Luxembourg, des perquisitions d’ampleur par le Parquet national financier dans les locaux de la banque.
La Société générale était dans le viseur du Paquet national financier depuis longtemps pour ces soupçons.

Overview

  • The Parquet national financier opened a preliminary probe in January 2024 into suspected tax-fraud laundering, aggravated laundering, and criminal association.
  • On June 24 and 25, judicial officers searched Société Générale’s La Défense headquarters and its Luxembourg branch, involving some 80 investigators and 11 magistrates.
  • Four executives were placed in custody after home searches, but all were freed without charges by June 25.
  • Investigators allege the bank crafted tax-driven structures for major French clients—including Lactalis—via Luxembourg vehicles dating back to 2009.
  • The PNF is now analysing documents seized in the raids as the inquiry continues separately from the earlier CumCum case.