French Ex-Minister Says He Lied About Offshore Account

Jerome Cahuzac, who resigned as French budget minister on March 19 over holding offshore accounts, said his initial denials were not true. He apologized.

“I was caught in a spiral of lies,” Cahuzac said on his blog today. “To the president, to the prime minister, to my former colleagues of the government, I ask for mercy for the damage I caused,” he said. Cahuzac, 60, asked to be heard by two Paris judges today to confess his misconduct.

Cahuzac said he held 600,000 euros ($770,000) in an offshore account and promised to repatriate the money to France. He did not say where the bank account was located.

Judges today charged Cahuzac with tax fraud, Agence France- Presse reported, citing his lawyer.

To contact the reporter on this story: Helene Fouquet in Paris at hfouquet1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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