RegulationJul 2 2014

Nicolas Sarkozy placed under formal investigation

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Nicolas Sarkozy has been placed under formal investigation in a corruption case that threatens the former French president’s potential political comeback, the FT’s Hugh Carnegy writes.

After a day of questioning in police custody Mr Sarkozy was placed under investigation early on Wednesday by an anti-corruption court on allegations of corruption and peddling influence in a case involving himself, his lawyer and a judge, according to a court communique cited by the AFP and a statement by the prosecutors office reported by Reuters.

Mr Sarkozy, who denies the allegations, was then released, FastFT reports.

The status of formal investigation means the court believes there is evidence pointing to a crime, but does not always lead to charges. But the case is set to hang over Mr Sarkozy for months to come.

Mr Sarkozy is considering whether to run for the presidency in the 2017 election. A decision is expected before a special congress of his centre right UMP elects a new party president in November.

But the party is in disarray over a campaign finance scandal and leadership rivalries.

The latest probe arose from the tapping of Mr Sarkozy’s mobile phone and that of his lawyer in a separate investigation of allegations that his 2007 presidential campaign received millions of euros in secret funding from former Libyan dictator Muammer Gaddafi. Mr Sarkozy also vehemently denies those allegations.