Friday 24 May 2013

.:Middle East Online::Corruption suspicions hang over Qatar takeover of French Printemps:.

"Unions at the French department store Printemps have asked authorities to open a probe into what they call opaque finances in the sale of the luxury shop chain to investors from the gas-rich Gulf state of Qatar.

"We have turned to the prosecutor because we have discovered multiple financial arrangements in the sale specifying exorbitant commissions and intermediaries which also get exorbitant sums," said Bernard Demarcq, the spokesman for the unions at the store chain.

"All this seems very opaque to us. This should be probed for possible corruption, breach of trust, money laundering and tax fraud," he added of the request submitted Tuesday."

'via Blog this'

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