Orange CEO questioned

Stephane Richard. Photo: Charles Platiau/Reuters A French prosecutor yesterday decided to hold Orange CEO Stephane Richard for questioning for a further 24 hours over his role in a 2008 arbitration process that resulted in a large payout to businessman...

[attach id="259590" size="medium"]Stephane Richard. Photo: Charles Platiau/Reuters[/attach]

A French prosecutor yesterday decided to hold Orange CEO Stephane Richard for questioning for a further 24 hours over his role in a 2008 arbitration process that resulted in a large payout to businessman Bernard Tapie, a source close to the investigation said.

Richard has been held for questioning in Paris since Monday. The process can last up to 48 hours until judges decide whether a person is put under formal investigation.

Richard was at the time head of Cabinet to then Finance Minister Christine Lagarde, now the head of the International Monetary Fund.

He has denied any wrongdoing.

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