From Lactalis to Société Générale, the courts are on the trail of massive tax fraud laundering

In Luxembourg, the governance of the local subsidiary of Société Générale has been completely shaken up in recent days, as if a new chapter was about to be turned. Patrick Suet, a former advisor to Edouard Balladur's office at Matignon in 1995, one of the historic pillars of Société Générale Luxembourg, and one of the bank's leading figures, having served as its secretary general at its La Défense headquarters since 2009, has also left the board of directors, according to information gathered by Libération . He nevertheless remains a member of the AMF board, the stock market watchdog. Other directors have left the institution.

On Tuesday, June 24, in Paris and Luxembourg, large-scale searches of the bank's premises highlighted the suspicions that have been targeting the group's Luxembourg subsidiary for many years. An investigation was opened in January 2024 by the National Financial Prosecutor's Office (PNF) for several offenses, including "laundering of tax fraud," "laundering of tax fraud by an organized or aggravated gang," and "criminal conspiracy."

80 investigators and 11 magistrates