Orange CEO Richard Cleared Over Decade-Old Payout Scandal

Paris ruling cements Stephane Richard’s position at Orange
French businessman Bernard Tapie, four other men also cleared

Stephane Richard speaks to television crews and journalists as he departs the Porte de Clichy courthouse in Paris, on July 9.Photographer: Christophe Morin/Bloomberg

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By Gaspard Sebag and Angelina Rascouet

July 9, 2019 at 8:30 AM UTC

Updated on

July 9, 2019 at 10:22 AM UTC

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Orange SA Chief Executive Officer Stephane Richard was cleared by Paris judges in a scandal related to his role at the Finance Ministry in a 403 million euros ($451 million) arbitration payout a decade ago, cementing his position at the head of France’s largest telecommunications firm.

There was no proof that Richard took part in any fraud, Presiding Judge Christine Mee said Tuesday as she read the verdict. The panel of three judges also cleared businessman Bernard Tapie, who prosecutors said benefited from the alleged fraud.