France's top court upholds Sarkozy's corruption conviction

Investing.com -- France's highest court, the Cour de Cassation, upheld the conviction of former President Nicolas Sarkozy for corruption and influence peddling on Wednesday. Sarkozy had challenged his 2021 conviction, which carried a three-year prison sentence, with two years suspended. Instead of serving time in prison, the former president will wear an electronic monitoring bracelet for the final year of his sentence.

Sarkozy, a notable figure in French politics despite leaving office in 2012, was found guilty by a lower court for attempting to bribe a judge and trading influence for confidential information about an investigation into his 2007 campaign finances. The court determined that Sarkozy conspired to secure a job in Monaco for a judge in return for inside information about a probe into allegations of accepting illegal payments from Liliane Bettencourt, the L'Oreal heiress.

The judge, Gilbert Azibert, was also convicted for corruption and influence peddling. Sarkozy is due to stand trial next year on corruption and illegal financing charges related to alleged Libyan funding of his successful 2007 presidential bid. He denies all allegations of wrongdoing.

If found guilty in the Libya case, Sarkozy could face a prison sentence of up to 10 years. Sarkozy's predecessor, Jacques Chirac, is the only other president in modern French history to be convicted by a court. Chirac was found guilty of corruption in 2011, four years after leaving his post.

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Source: Investing.com