(News Bulletin 247) – This sentence was imposed on the politician this Wednesday and will be carried out under an electronic bracelet.

Press publisher and politician Nicolas Miguet was sentenced Wednesday to two years’ imprisonment, including one and a half years, to be executed under an electronic bracelet, for having manipulated the price of his own company Nicolas Miguet et Associés (NMA) in 2018.

The company Quotidien de Paris Editions (QPE), the Association of Revolted Shareholders (Arare) and the Rally of French Taxpayers (RCF) association, entities linked to Nicolas Miguet, were found guilty of the same acts and sentenced to fines of a total amount of 1.3 million euros, of which more than 500,000 are suspended.

The Paris Criminal Court ruled that the orders placed by Nicolas Miguet, on behalf of the three organizations mentioned above, to buy or sell NMA shares had the effect of artificially maintaining the share price.

The court also held that the information disseminated in press titles and Nicolas Miguet’s audiotels had contributed to price manipulation.

The AMF civil party

Contrary to what the defendant’s lawyer had defended, “intentionality is characterized” according to the president of the court.

A five-year ineligibility sentence was also handed down against the politician who tried to run in the last five presidential elections, without succeeding in collecting the necessary 500 sponsorships from elected officials.

In detail, QPE receives a fine of 100,000 euros (including 27,612 euros suspended), Arare 800,000 euros (including 311,234 euros suspended) and RCF 400,000 euros (including 187,500 euros suspended). The firm part of these fines corresponds to the capital gains made.

Obligations to “repair the damage caused by the offense” and “pay the sums owed to the Public Treasury” were imposed, as was the confiscation of the various accounts of Nicolas Miguet and his companies.

The financial markets authority (AMF), at the origin of the investigation, had become a civil party, a request deemed admissible by the court, which asked Nicolas Miguet and his three entities to “pay jointly 6,230 euros in compensation for material damage and a symbolic euro due to the damage suffered by savers.

Nicolas Miguet was not present when the decision was rendered, “suffering” according to his lawyer Marc Goudarzian.

Marc Goudarzian has indicated his intention to appeal. His client is “relieved that there is no committal warrant,” he told AFP.

(With AFP)