Sarkozy Named as Suspect in Campaign Finance Probe Over Heiress

Photographer: Kenzo Tribouillard/AFP/Getty Images

Former French president Nicolas Sarkozy jogs in Paris on Nov. 28, 2012. Sarkozy in November had been named a “material witness” by judges investigating the claims, a position placing him between being called to testify and being made a target of the matter. Close

Former French president Nicolas Sarkozy jogs in Paris on Nov. 28, 2012. Sarkozy in... Read More

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Photographer: Kenzo Tribouillard/AFP/Getty Images

Former French president Nicolas Sarkozy jogs in Paris on Nov. 28, 2012. Sarkozy in November had been named a “material witness” by judges investigating the claims, a position placing him between being called to testify and being made a target of the matter.

Former French President Nicolas Sarkozy was named as a formal suspect by judges probing claims he took advantage of billionaire Liliane Bettencourt’s mental frailty to access her fortune, Bordeaux prosecutors said.

Sarkozy’s being placed formally under investigation comes after months of questioning over whether he, his 2007 presidential campaign or his party got gifts from the L’Oreal SA (OR) heiress while she wasn’t mentally fit to make decisions, and whether Bettencourt, France’s richest woman, was manipulated.

Sarkozy lost his bid for re-election in May, lifting the immunity that accompanies the post of president in France. He is the second former president in France’s modern era to face criminal inquiries after leaving office. His predecessor, Jacques Chirac, was found guilty of corruption during his time as mayor of Paris prior to his term as president, receiving a suspended jail sentence in December 2011.

Sarkozy in November had been named a “material witness” by judges investigating the claims, a position placing him between being called to testify and being made a target of the matter. The announcement yesterday by Bordeaux prosecutors means that Sarkozy has become the focus of the investigation.

A call to Thierry Herzog, Sarkozy’s attorney, outside of regular business hours wasn’t answered. Herzog said he will appeal the ruling, according to France’s BFM TV.

Bettencourt’s former financial adviser, Patrice de Maistre, and Eric Woerth, the treasurer of Sarkozy’s party during the campaign and a former budget minister, have been charged in the case. Both men deny the allegations. De Maistre said in an interview in the Journal du Dimanche on Nov. 11 that he never gave money to either Woerth or Sarkozy.

More than a dozen people have been charged in the probes spawned by the affair, according to Agence France-Presse.

To contact the reporter on this story: Andrea Rothman in Toulouse at aerothman@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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