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French Ex-Minister Says He Lied About Offshore Account

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April 2 (Bloomberg) -- 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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