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World Print edition: 2023-06-02

French supermarket CEO detained in stock manipulation probe

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By AFP
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PARIS: The head of a top French supermarket chain was taken into custody for questioning Thursday in an inquiry over stock price manipulation, insider trading and corruption suspicions, a source close to the case said.

Jean-Charles Naouri, already under pressure to reduce debt at retailer Casino, was being held in Paris by judges probing links between the CEO and a populist financial journalist who has made several attempts at the French presidency.

The alleged acts date to 2018 and 2019, the source told AFP, with judges investigating since 2020. Lawyers for Naouri did not respond to requests for comment.

Investigators searched Casino’s headquarters as well as Naouri’s home in May 2022.

French presidency

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