Paris officials announce probe into France Telecom chief exec

FRENCH officials yesterday said they had begun a formal investigation into Stephane Richard, the chief executive of France Telecom.

The case relates to Richard’s time at the French Treasury during Nicolas Sarkozy’s presidency, when a substantial fraud payout was handed to Bernard Tapie, a Sarkozy supporter. Richard – who denies wrongdoing – was detained and questioned by Paris police this week.

“This has no consequence on his current responsibilities. Stephane Richard will return to work tomorrow morning,” a spokesperson for the company said.