French Businessman Vincent Bollore Charged in Africa Corruption Case

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By Copyleft from Wikimedia Commons

Vincent Bollore, a businessman and billionaire from France, has been given preliminary charges during an investigation into an alleged corruption scheme that is surrounding some lucrative port deals in Africa.

The corruption charges were considered to be a remarkable move against one of the most powerful business magnates of France. The Bollore Group of Bollore has huge holdings in the various sectors such as media sector, the transport sector, and the oil sector.

In a statement that was released on Wednesday, the French businessman said that he was released pending further investigation into the said allegations. The statement said that Bollore will now have to “answer these unfounded accusations.”

The shares of the Bollore Group fell after he was detained for a series of questioning last Tuesday.

The said investigation is said to focus on the suspicions that involve the port deals that were made way back in 2009 and 2010 in the West African nations of Guinea and Togo. The Bollore Group is alleged to be making use of Havas, a communications arm, in order to provide cut-rate services to the leaders of Africa. Allegedly, the African leaders made sure that another subsidiary would be granted with the shipping terminal contracts.