SHARE
COPY LINK

CRIME

French couple charged with fencing Picassos

Police have charged a retired electrician and his wife with stashing 271 stolen Picasso artworks in their garage, a newspaper reported Sunday.

Pierre Le Guennec, 71, was caught and sued along with his wife when he contacted the late Spanish painter’s estate seeking to authenticate the works, which he had kept in his garage for nearly 40 years, Le Monde newspaper said.

The local public prosecutors’s office declined to confirm the report to AFP and Le Guennec and his lawyer could not be reached for comment.

The report said Le Guennec claimed Picasso and his wife and muse Jacqueline had personally given him the works when he was working at their farmhouse in Mougins, not far from his own home in Mouans-Sartoux, southeastern France.

Investigators found however that some of the works – which include collages, sketches and prints – disappeared from another location, Le Monde said. They seized the works and charged the couple with handling stolen goods.

BANKING

Danish bank to pay millions to end French laundering probe

Denmark’s largest bank has agreed to pay a multi-million sum to end legal pursuits in France linked to alleged money laundering in its Estonian subsidiary that resulted in heavy US penalties

Danish bank to pay millions to end French laundering probe

Danske Bank will pay €6.3million (47million kroner) to end French financial authorities’ investigation.

An independent auditor’s report published in 2018 alleged Danske Bank’s Estonian unit allegedly laundered some €200billion through 15,000 accounts from 2007 to 2015.

The payment was agreed on August 27th with France’s national financial crime prosecutors and validated by a court on Wednesday. The agreement does not involve any admission of guilt.

Danske last December pleaded guilty in the United States and paid a $2billion fine.

The bank last October set aside an amount roughly equal to its US fine in expectation of legal pursuits in several countries.

Probes are underway in Estonia, Denmark, and Britain.

France charged Danske in 2019 with organised money laundering, which it denied, saying it was unaware of its Estonian subsidiary’s activities.

Tracfin, the French finance ministry’s anti-money laundering unit, found suspect movements on two accounts linked to a Franco-Russian businesswoman who has since been handed a two-year suspended sentence.

At Wednesday’s hearing, Danske’s counsel Niels Heering said his institution was “happy to reach this accord which for us is a way to close this chapter”, adding that “cracking down on financial fraud remains a priority” for the bank.

SHOW COMMENTS