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French billionaire under investigation for illegal funding of Le Pen's party
2025-07-11 22:52:16 / BOTA
A French billionaire has been questioned by authorities as part of an investigation into irregularities in the campaign financing of France's largest far-right party.
According to Politico, Pierre-Edouard Sterrin made a statement in June 2024.
The questioning took place as part of an investigation into loans of 1.8 million euros to National Rally candidates to cover campaign expenses for the 2020 municipal elections and the 2021 regional elections, in major cities such as Lyon and Nice.
French authorities are investigating whether there is enough evidence to prosecute charges involving money laundering and illegal banking activities.
The case has been open since January 2021 and was first reported by the newspaper Le Monde. A Sterne spokesperson also confirmed to Politico that the billionaire had been questioned, but denied any wrongdoing.
"Pierre-Édouard Sterne has never participated, directly or indirectly, in illegal campaign financing. The loans, which were granted in a personal capacity, were structured by a political finance specialist and were properly declared," his office said in a statement.
French law allows individuals to contribute financially to election campaigns, but this practice is subject to strict restrictions.
They are allowed to lend money, but not to do so regularly.
Just this week, the party's Paris headquarters were searched by authorities in a case involving potentially illegal loans during the 2022 presidential election campaign, subsequent parliamentary elections and the 2024 European elections.
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