Fate Of French Telecom Co. Boss In Balance After Conviction

By Katryna Perera (November 24, 2021, 4:46 PM EST) -- The board of French telecom giant Orange SA was to meet to discuss the fate of its CEO, Stephane Richard, after he was convicted Wednesday over his role in a decades-old $452 million fraud scheme that involved a payout to a prominent French businessman and former Adidas shareholder.

Richard is one of several people connected to an allegedly fraudulent arbitration award of €404 million, or $452 million, paid to French tycoon Bernard Tapie in 2008. Richard was working in the French finance ministry at the time of the payout.

Richard was previously cleared of charges by a Paris court in 2019....

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