Paris judges sentenced Mohed Altrad to an 18-month suspended jail term and handed him a €50,000 fine, saying they refrained from an outright management ban to avoid “disproportionate” consequences for a businessman with no prior convictions. The court ruled Tuesday that the founder of the eponymous building giant had improper dealings with the head of France’s rugby federation, Bernard Laporte, who was also convicted.
The payment, as part of an image rights contract that was never carried out “sealed the corruption relationship between Mr. Altrad and Mr. Laporte,” Judge Rose-Marie Hunault said. Laporte’s behavior “harmed the image of rugby,” she added.“World Entrepreneur of the Year” Altrad is worth $3.1 billion, according to Bloomberg’s Billionaire Index. He owns 78% of the group’s holding Altrad Investment Authority, according to a court document.
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