Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Adviser to France's Hollande resigns after fraud accusations

Published 12/03/2014, 10:47 AM
Updated 12/03/2014, 10:50 AM
© Reuters. File picture Faouzi Lamdaoui, closed advisor of French President Francois Hollande, walking up stairs arriving for a meeting at Socialist party's candidate former campaign headquarters in Paris

PARIS (Reuters) - An adviser to French President Francois Hollande resigned on Wednesday after being summoned to answer charges of fraud by a Paris criminal court, the second Hollande ally to step down in the last month.

Faouzi Lamdaoui, an equality and diversity advisor with close ties to Hollande, is suspected of misusing corporate assets, money laundering and forgery from 2007 to 2008 related to a transport company he founded, the Paris prosecutor's office told Reuters.

The presidential palace confirmed his resignation in a brief statement.

Lamdaoui did not immediately return a call seeking comment.

The case against Lamdaoui, Hollande's chief of staff during his 2012 election campaign, could further erode the president's campaign promise to run an "exemplary Republic". Since then, Hollande's approval score has fallen to the lowest of any French leader in the past 50 years.

That pledge took its biggest hit last year when Hollande's former budget minister, Jerome Cahuzac, resigned over revelations that he had secret bank accounts in Switzerland.

This year, Hollande's main political strategist quit over accusations of past conflict of interest linked to his work for pharmaceutical firms, while a junior trade minister resigned after it emerged he did not pay income taxes for three years.

Most recently, the junior minister for veterans affairs resigned in November after being accused of favoring relatives in the awarding of public contracts.

(Reporting by Chine Labbe and Elizabeth Pineau. Writing by Alexandria Sage; editing by Ralph Boulton)

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.