Bernard Arnault denies involvement in alleged influence-peddling scheme
- Bernard Arnault testified on November 28, 2024, in the trial of former DCRI head Bernard Squarcini, who faces multiple charges.
- Arnault claimed he had no knowledge of an alleged scheme to protect LVMH and described his presence as that of a simple witness.
- The trial highlights critical issues related to corporate ethics and potential misconduct in security agencies and private enterprises.
On November 28, 2024, in France, Bernard Arnault, the billionaire head of luxury goods conglomerate LVMH, testified as a witness in the ongoing trial of Bernard Squarcini, the former chief of France's domestic intelligence agency. Squarcini is facing serious charges, including influence peddling and misuse of public funds, amid accusations that he used his security contacts for personal gain, including working for LVMH as a consultant after leaving his official post. Arnault stated in his opening remarks that he was completely unaware of any alleged scheme involving Squarcini or any actions taken to protect LVMH at the expense of national security. Furthermore, he emphasized his role as merely a witness in the proceedings. Investigations revealed that as early as 2008, officers from the DCRI had been involved in attempts to uncover a blackmailer targeting Arnault. The backdrop of this trial includes prior allegations of misconduct regarding surveillance of journalists, particularly targeting François Ruffin, a leftist MP who previously produced critical media content about Arnault. LVMH eventually settled out of court, paying €10 million in fines without admitting any wrongdoing. Arnault criticized Ruffin's motivations, suggesting that the politician was exploiting the trial for personal and political gain, particularly due to Ruffin's plans to disrupt LVMH's shareholder meetings, which had raised concerns within the company. Despite Arnault’s testimony, the larger context of LVMH's dealings and their implications on corporate governance and ethics in France linger as significant points of discussion.