US EditionSanofi Faces Surprise HQ Search As French Authorities Expand Tax Probe - Regeneron Pharmaceuticals (NASDAQ:REGN), Sanofi (NASDAQ:SNY)
French authorities expanded their probe into alleged money laundering involving Société Générale financing schemes linked to Sanofi, with 30 inspectors searching Sanofi's Paris HQ.
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This search is part of a preliminary investigation opened in January 2024 by the national financial prosecutor's office, around tax packages proposed by the banking group Société Générale to large companies.
Sanofi Faces Surprise HQ Search As French Authorities Expand Tax Probe - Regeneron Pharmaceuticals (NASDAQ:REGN), Sanofi (NASDAQ:SNY)
Sanofi SA's (NASDAQ:SNY) Paris headquarters received an unannounced visit on Tuesday as tax investigators, accompanied by prosecutors and specialist aides, searched the site amid a widening financial probe. French prosecutors confirmed that Sanofi is the focus of a preliminary investigation launched in January 2024 into alleged "money laundering of tax fraud," including potential involvement by an organized group and possible criminal conspiracy…
The search on Tuesday, 25 November, is part of an investigation by the National Financial Prosecutor's Office into suspicions of money laundering of tax fraud.
The investigation by the national financial prosecutor's office (PNF) concerns tax arrangements offered by Société Générale to large groups.
The pharmaceutical giant is targeted, in the same way as Lactalis and AXA, by an investigation. Justice is looking at the conditions under which a service of the Société générale has made mainly tax-related montages for large French companies.
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