The PNF investigates Nicolas Sarkozy over contract with Russian insurer

 Nicolas SarkozyThe French Financial Prosecution Office (PNF) is conducting a preliminary investigation on Nicolas Sarkozy for "influence peddling" and "covering up a crime or misdemeanor". The case deals with his consulting activities with ResoGarantia, a Russian insurance company 36.7% owned by the AXA Group.

An investigation has been opened after France’s national fraud unit “Tracfin” raised concerns over why Sarkozy had been paid by the Russian insurer.

In 2019, the former French president signed a 3 million EUR (3.6 million USD) multi-year contract with ResoGarantia. In early 2020, Sarkozy had already received a first payment of 500 000 EUR (607 125 USD) under the very contract.

Through this investigation, the PNF aims to establish whether Sarkozy was employed as a consultant or to lobby on behalf of the Russian company.

Founded in 1991, ResoGarantia is specialized in motor insurance, holds about 34 000 agents in Russia and has 11 million customers.

Read also | French insurers commit not to increase premiums in 2021

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