Arnaud Lagardère

Audit firm Mazars was formally placed under investigation in February 2026 for complicity in the offence of failing to report criminal acts, as part of the judicial investigation concerning Arnaud Lagardère, confirming that the case remained active.

Arnaud Lagardère was formally placed under investigation for, among other offences, misuse of corporate assets, abuse of power, vote buying, dissemination of false or misleading information and failure to file accounts. The suspicions largely concerned his personal companies, with certain allegations involving Lagardère SA dating from 2018-2019.

Attribution

Accused

The judicial investigation examined substantial financial flows between Lagardère SAS, Lagardère Capital & Management and the executive's personal expenses, as well as tax matters and private debt. Le Monde reported that the amounts examined ran into tens of millions of euros.

Attribution

Directly implicated

Being formally placed under investigation was accompanied by a temporary ban on managing companies, requiring Arnaud Lagardère to step down temporarily from his executive positions within the group.

State of the evidence

Documented

Attribution

Directly implicated

Following the partial lifting of the management ban, the board of directors of Lagardère SA reappointed Arnaud Lagardère as chairman and chief executive officer.

State of the evidence

Documented

Attribution

Directly implicated

Amber Capital challenged the Lagardère group's performance, governance and limited partnership structure over several years. This shareholder confrontation became one of the triggers for the judicial investigation opened in 2021.

State of the evidence

Documented

Attribution

Directly implicated

A judicial investigation was opened in 2021, based notably on a complaint from Amber Capital and a referral from the Autorité des marchés financiers. It concerned financial flows between Lagardère's personal companies, his expenses and certain group governance actions.

State of the evidence

Documented

Attribution

Directly implicated

Lagardère invested more than €1 billion in the sports business, including €865 million for Sportfive. From 2011, the business recorded sustained losses and analysts wrote down the value of its assets to zero.

State of the evidence

Documented

Attribution

Directly implicated

An audit presented to the supervisory board recommended that Arnaud Lagardère hand over operational management of Lagardère Unlimited to a more operationally focused executive. Le Monde also reported internal criticism of his involvement.

State of the evidence

Reported by the press

Attribution

Directly implicated

After being suspected in the AMF's preliminary report, Arnaud Lagardère was no longer implicated in the report submitted in 2009; he had also been questioned as a witness by financial police without charges being brought at that stage.

State of the evidence

Documented

The Lagardère group sold 7.5% of EADS in April 2006, shortly before the announcement of major A380 delays and a sharp fall in its share price. Arnaud Lagardère was questioned extensively by the AMF in its investigation into possible insider trading.

State of the evidence

Documented