started · updated
McKinsey: 65 million euros seized in French tax fraud probe
The French National Financial Prosecutor's Office (PNF) has secured the seizure of approximately 65 million euros through Belgian judicial authorities. This action is part of an ongoing investigation into the American consulting firm McKinsey & Company regarding alleged aggravated tax fraud and money laundering.
The seized amount, totaling 65,244,757.07 euros, represents roughly 96% of the total tax loss estimated by the PNF, which is valued at nearly 68 million euros. The funds were frozen on August 19 to secure potential financial penalties that may be imposed following the conclusion of the legal proceedings.
The investigation, which began in March 2022 following a Senate inquiry, focuses on whether McKinsey's French entities utilized tax arrangements to avoid paying corporate income tax between 2011 and 2020. McKinsey has stated that the precautionary seizure is a procedure related to a preliminary investigation and does not constitute a final judicial decision. The company maintains it is cooperating with authorities and intends to contest any alleged irregularities.
Entities
Belgium · Brussels prosecutor's office · France · French National Financial Prosecutor's Office · McKinsey & Company
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] McKinsey stated the precautionary seizure is a procedure linked to a preliminary investigation and is not a final judicial decision. sapo.pt
- [○ 1 SOURCE] The total estimated tax loss is nearly 68 million euros. www.epochtimes.fr
- [● 2 SOURCES] The investigation examines a potential tax scheme that allowed McKinsey's French entities to avoid corporate tax between 2011 and 2020. www.leprogres.fr · sapo.pt
- [● 3 SOURCES] The seizure of 65,244,757.07 euros represents 96% of the estimated tax loss. www.epochtimes.fr · www.leprogres.fr · sapo.pt
- [● 3 SOURCES] The seizure was carried out through the assistance of Belgian judicial authorities via international legal cooperation. www.epochtimes.fr · www.leprogres.fr · sapo.pt
- [● 2 SOURCES] The preliminary investigation into McKinsey has been open since March 2022. www.leprogres.fr · sapo.pt
- [● 3 SOURCES] A total of 65,244,757.07 euros was seized on August 19. www.epochtimes.fr · www.leprogres.fr · sapo.pt