September 5, 2016
A former French budget minister went on trial Monday for hiding his wealth in tax havens around the world while at the same time leading the government’s fight against tax evasion. Jerome Cahuzac appeared in a Paris court on charges of tax fraud and money laundering that saw him resign in 2013 in one of the biggest political scandals under President Francois Hollande.
The 64-year-old former cosmetic surgeon is accused of concealing at least 687,000 euros (USD 766,000) in income from tax authorities in 2009-2012. He’s also accused of laundering money in 2003-2013 through foreign bank accounts in Switzerland and Singapore and dummy companies in Panama and the Seychelles.