From Corner Office To Corner Cell
When the cell door clanged shut at 1 a.m. in La Sante prison in Paris, France's long-running exorcism of corruption crossed a new threshold. Although dozens of business executives are under investigation, no high-level corporate leader had been jailed in France until the July 5 lockup of Loik Le Floch-Prigent. An ex-bureaucrat who ran France's largest company, oil giant Elf Aquitaine, the 52-year-old Le Floch now heads the French railways. He symbolizes the baronial power of state-backed executives, which many consider the root of French white-collar crime.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.