Offshore

French Swiss Bank Account Scandal Takes A Far-Right Twist

Tom Burroughes Group Editor London 11 April 2013

French Swiss Bank Account Scandal Takes A Far-Right Twist

The political scandal gripping France over the use by a former finance minister of a Swiss bank account – which he had denied – took a further turn yesterday amid media reports that the founder of the far-right Front National party had once used a Swiss account.

Jean-Marie Le Pen had an account in the Alpine state, reports said, in a revelation that will embarrass his daughter, Marine Le Pen, who is now leader of the party.

In recent days, Jérôme Cahuzac, who had been budget minister in the socialist administration of Francois Hollande – a government committed to a 75 per cent tax on high earners – resigned. Cahuzac was forced to resign from his job as budget minister in charge of clamping down on tax evasion last month after it was revealed he had hidden €600,000 from the French taxman in a Swiss bank account. The minister had vigorously denied the allegations, protesting his innocence with Hollande and before the French parliament.

In the latest story, it was reported that in 1981 Jean-Pierre Mouchard, the former treasurer of an FN-linked group, Cotelec, set up an account with Swiss bank UBS. The story came from the  Mediapart website, which broke the Cahuzac story.

The stories have been damaging to Hollande’s administration, which like European peers has made a point of targeting Swiss bank accounts used by alleged tax evaders. The scandals are particularly poignant in France, due to Hollande’s targeting of the wealthy to help close a large budget deficit, a move that has prompted a number of high-profile French individuals to emigrate.

 

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