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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Oil rebounds as key pipeline remains shut and China eases curbsOil rebounded as a key North American pipeline remained shut and on the potential boost to demand from the easing of virus curbs in China.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Cartoon Tuesday with RicoDefend Truth
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Chinese property tycoon to sell stake as share sales ramp upThe billionaire owner of Country Garden Holdings Co is selling a stake in a unit to raise about $650-million amid a flurry of share sales by cash-strapped Chinese developers. Seems the Chinese economy is more bedraggled kitten than roaring tiger.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Uber conducting probe after vendor hit with cyberattackUber Technologies said it’s investigating the hack of a third-party vendor that reportedly resulted in the leak of data from the ride-hailing company, including employee email addresses.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Twitter blue service is back, including ‘verified’ badgesTwitter resumed selling its Twitter Blue premium offering, which gives users a blue verification badge by their names, following a weeks-long pause because some subscribers were using the paid service to impersonate well-known accounts.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: World Debt-GDP Ratio Plummets But Remains Above Pre-Covid LevelDebt as a share of gross domestic product plunged by the most in seven decades in 2021, but policymakers still face challenges because borrowing remains above pre-Covid-19 levels, the International Monetary Fund said.
Source: dailymaverick - 🏆 3. / 84 Read more »