French Finance Minister Bruno Le Maire is facing investigations into whether a political vehicle he created for a presidential primary in 2016 benefited from illegal financing.
(Bloomberg) — French Finance Minister Bruno Le Maire is facing investigations into whether a political vehicle he created for a presidential primary in 2016 benefited from illegal financing.
Paris prosecutors are assessing whether his micro-party “Avec BLM” unlawfully accepted below-normal prices for certain services it received, the prosecutors said, confirming a report by news outlet Mediapart.
The preliminary investigations cast a shadow over the attempts by President Emmanuel Macron and Le Maire to bolster their credentials for rigorous financial management at a time when France is seeking to rein in debts from the Covid pandemic and energy crisis.
Le Maire suffered a stinging defeat in the 2016 center-right primary, failing in the first round with less than 3% of the vote. He bounced back when Macron picked him for government despite the two hailing from opposing political parties and has since become the French republic’s longest-serving finance minister.
According to Mediapart, the investigation relates to unpaid debts to communications consultancies that were written off by Avec BLM after five years. The offense that Paris prosecutors are investigating carries a sentence of up to three years in prison and a €45,000 ($48,389) fine.
Contacted by Bloomberg, a member of Le Maire’s office said the national committee on campaign financing — the CNCCFP — validated the accounts of Avec BLM in November 2022 and that the minister’s team has provided details on two bills that were subject to a disagreement with suppliers. After five years during which the suppliers did not respond to Avec BLM, those bills were written off in line with accounting rules, the person said.
–With assistance from Gaspard Sebag.
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