• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire

2

The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure

3

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

1

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire

2

The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure

3

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
RetailLVMH
Europe

Billionaire Bernard Arnault tells court he was ‘completely unaware’ ex-spy chief had allegedly abused powers to protect LVMH

By
AFP
AFP
Down Arrow Button Icon
By
AFP
AFP
Down Arrow Button Icon
November 28, 2024, 9:41 AM ET
LVMH CEO Bernard Arnault was defiant on the stand that he knew nothing about the spying activities.
LVMH CEO Bernard Arnault was defiant on the stand that he knew nothing about the spying activities.JULIEN DE ROSA / AFP

France’s richest man, LVMH chief Bernard Arnault, testified Thursday in the influence-peddling trial of the former head of France’s domestic intelligence agency, denying any knowledge of an alleged scheme to protect the luxury group.

Recommended Video

Bernard Squarcini, the former head of the DCRI security service (since renamed the DGSI), is one of 10 men on trial and charged with using his security contacts for private gain, including obtaining confidential information on behalf of LVMH.

Squarcini faces 11 charges in the Paris criminal court case, including influence peddling, misuse of public funds and compromising national security information.

“I would like to point out that I am here as a witness, a simple witness, and that my indictment was never considered by the investigating magistrates,” Arnault said in his opening statement.

“I was completely unaware” of the alleged scheme, he added.

The charges relate both to the period when Squarcini headed the DCRI from 2008-12 and to his subsequent return to the private sector, when he worked largely for LVMH as a consultant.

Investigators say that as early as 2008, DCRI officers were deployed to try to identify a blackmailer targeting Arnault.

Other allegations relate to spying on Francois Ruffin, a former journalist who is now a leading left-wing lawmaker — and, from 2013 to 2016, the leftist newspaper Fakir that Ruffin founded.

Before his 2017 election to parliament, Ruffin produced a satirical film about Arnault titled “Merci Patron” (“Thanks Boss”) that won a Cesar award — French cinema’s equivalent of an Oscar.

Ruffin, whose lawyers requested that Arnault testify, has said that the lawsuit had “been decapitated” because LVMH itself was not in the dock.

The company settled out of court in 2021, paying 10 million euros in fines. Arnault was interrogated by investigating magistrates but neither he nor LVMH were ever put on trial.

LVMH had been concerned about the activities of Ruffin, who at the time was planning to disrupt its shareholder meetings.

‘Absolutely not’

But Arnault said that in the accord with investigating magistrates “it is stated that the group does not recognise any responsibility”, saying the deal had been “proposed” by the magistrates.

Agreeing to the deal was a question of “avoiding being caught up in the media uproar that followed”, Arnault told the court.

He also denounced Ruffin, saying “I think he is trying to exploit this trial for personal, media, political and even commercial reasons”.

Asked by the judge if he was aware of an attempted blackmail targeting his private life in 2008, for which the DCRI mobilised its agents to identify the blackmailer, Arnault replied: “Absolutely not.”

Arnault was also questioned if he was informed by Pierre Gode, the vice president of the group who died in 2018, of surveillance of Francois Ruffin and Fakir. He replied in identical fashion: “Absolutely not.”

Arnault, who regularly vies with the likes of Elon Musk for the title of the world’s richest person, has along with his family a fortune of $158.6 billion, according to Forbes magazine.

He also rejected the allegations concerning LVMH’s work practices in Ruffin’s documentary, describing his group as one that pays “8 billion” euros to the state per year in taxes and “recruits the most in France”.

LVMH has sought to further broaden its empire especially into media, last month taking control of the glossy weekly Paris Match to join the dailies Les Echos and Le Parisien in its media stable.

In another eye-catching move, the Arnault family is set to buy a controlling stake in football club Paris FC in a move that could make the Ligue 2 outfit a rival to French giants Paris Saint-Germain.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Author
By AFP
See full bioRight Arrow Button Icon

Latest in Retail

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Retail

t
RetailEconomics
The market keeps winning. Most Americans are losing faith
By Stan Choe and The Associated PressMay 23, 2026
3 days ago
James Daunt sits in a booksop, gesturing with both hands and smiling.
AIbooks
Barnes & Noble CEO clarifies the bookseller’s stance on AI-written books after refusing to ban them: ‘This is a straightforward rejection of AI books’
By Sasha RogelbergMay 22, 2026
3 days ago
Walmart shoppers are filling their gas tanks with less than 10 gallons for the first time since 2022, and its CFO calls it ‘an indication of stress’
EconomyRetail
Walmart shoppers are filling their gas tanks with less than 10 gallons for the first time since 2022, and its CFO calls it ‘an indication of stress’
By Marco Quiroz-GutierrezMay 22, 2026
4 days ago
trump
EnvironmentWhite House
Trump reverses grocery, air conditioning pollution regulations because they’re too woke
By Matthew Daly and The Associated PressMay 21, 2026
4 days ago
target
Retailearnings
Target posts biggest jump in comparable sales in 4 years as turnaround takes shape
By Anne D'Innocenzio and The Associated PressMay 20, 2026
6 days ago
Variational co-founders Edward Yu and Lucas Schuermann pose for a picture
CryptoCryptocurrency
Variational raises $50 million Series A to bring liquidity from traditional markets to blockchain rails
By Jack KubinecMay 20, 2026
6 days ago

Most Popular

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire
Economy
The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire
By Nick LichtenbergMay 25, 2026
22 hours ago
The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure
Travel & Leisure
The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure
By Catherina GioinoMay 25, 2026
19 hours ago
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
5 days ago
Elon Musk's best friend could make more than $100 billion from SpaceX's IPO. His firm is also owed billions by SpaceX
Investing
Elon Musk's best friend could make more than $100 billion from SpaceX's IPO. His firm is also owed billions by SpaceX
By Eva RoytburgMay 25, 2026
18 hours ago
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
Real Estate
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
By Marco Quiroz-GutierrezMay 25, 2026
18 hours ago
Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive
Lifestyle
Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive
By Sasha RogelbergMay 24, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.