Former French President Sarkozy guilty of illegal financing

The Paris Criminal Court on Thursday indicted former French President Nicolas Sarkozy for the so-called Pygmalion case. It is about Sarkozy’s 2012 re-election campaign. The then French president, along with his team, would spend 22 million euros more than allowed by law. By the way in vain. The conservative lost to the socialist François Hollande.

Sarkozy, who was not present at the verdict, was sentenced to a year in prison, which he can serve at home under the supervision of an electronic ankle bracelet.

Sarkozy and his entourage tampered with bank accounts at the time, leaving some sums out of the accounts. A consulting firm of Bygmalion was attracted for this and held, for example, expensive election meetings out of books.

The charges were brought against 14 people, along with Sarkozy mainly executives of Bygmalion (which Sarkozy worked with UMP at the time) and accounting specialists.

This investigation also revolved around illegal campaign financing, this time during his 2007 election. Sarkozy may have received money from Libyan dictator Muammar Gaddafi and L’Oréal heiress Liliane Betancourt. Sarkozy appealed this ruling.