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Former CEO of Lafarge under investigation over Syria terrorism funding
David Keohane DECEMBER 8, 2017
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Bruno Lafont, the former head of Lafarge, was placed under formal investigation by French prosecutors over allegations the company helped finance terrorism in Syria*.
Mr Lafont, who was CEO of Lafarge until 2015, is being investigated in relation to possible terrorism financing, endangering the lives of others and customs offences on Friday evening in Paris, according to a judicial source. His successor at the head of the company, Eric Olsen, was placed under formal investigation on Thursday night.
The investigation is part of a scandal that already led to the exit of Mr Olsen as chief executive of LafargeHolcim earlier this year. It surrounds a Lafarge plant the company kept running as Syria descended into civil war during 2013 and 2014.
LafargeHolcim, which was formed by a €41bn merger between France’s Lafarge and Switzerland’s Holcim in 2015, has previously admitted that “unacceptable measures” had been taken to keep the Syrian plant running, including payments to intermediaries to avoid disruption by local armed groups. The company has said “selected members of group management” were aware of possible violations of business conduct standards. However, despite an internal investigation, the company has not been able to say if funds ultimately ended up with militant group Isis.