France’s richest man Bernard Arnault defiantly testifies at ex-spy chief trial

Bernard Squarcini, ex-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, the billionaire 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 and identify a blackmailer targeting Arnault.

Other allegations relate to spying on then journalist François Ruffin – now a leading left-wing MP – and from 2013-16 the leftist newspaper Fakir that Ruffin founded. Before his 2017 election to parliament, Ruffin produced a satirical film, Thanks Boss (“Thanks Boss”), about Arnault that won a César award – French cinema’s equivalent of an Oscar.

Settlement

Ruffin, whose lawyers requested that Arnaut testify, has said that the process had “been decapitated” because LVMH itself was not in the dock. The company settled out of court in 2021, paying €10 million in fines in the settlement. 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. But Arnault insisted that in the accord with investigating magistrates “it is stated that the group does not recognize 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 slammed Ruffin, saying “I think he is trying to exploit this trial for personal, media, political and even commercial reasons.”

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