French judicial authorities have recently launched a sweeping investigation into alleged corruption, organized fraud, and organized money laundering targeting the telecommunications giant Altice Group, the parent company of French operator SFR. The probe, which saw coordinated raids across dozens of locations in France, is part of a broader Franco-Portuguese inquiry into a sophisticated scheme believed to have siphoned millions of euros from the group.
Extensive Searches Conducted Across France
On a recent Tuesday, November 18, French judicial authorities, including the National Financial Prosecutor’s Office (PNF) and the Central Office for Combating Corruption and Financial and Tax Offenses (OCLCIFF), executed a large-scale operation involving searches at approximately 30 locations across France. These included 15 private residences and 14 company premises situated in regions such as Île-de-France, Corsica, Var, and Vosges.
More than 70 investigators were mobilized for this coordinated action, which received support from Eurojust, the European Union Agency for Criminal Justice Cooperation. The primary objective of these extensive searches was to gather crucial evidence for the ongoing investigations into allegations of corruption, organized fraud, and organized money laundering, all reportedly to the detriment of the Altice Group.
French Investigation Launched Following Portuguese Arrest
The French arm of this investigation was formally initiated by the PNF in September 2023. This move came approximately two months after the arrest of Armando Pereira by Portuguese authorities. Pereira, a close associate and right-hand man of Patrick Drahi, the primary shareholder of Altice France, is considered a central figure in the alleged corrupt system.
The PNF’s inquiry focuses on what it describes as a “vast corrupt system” involving private corruption, organized fraud, and organized money laundering. This intricate scheme is believed to have operated to the financial detriment of the Altice Group, impacting its operations and potentially its shareholders.
Alleged Mechanism of the Corrupt System
According to judicial sources, the alleged corrupt system leveraged a complex network of shell companies. These intermediary entities were reportedly positioned between Altice and some of its suppliers. Through this arrangement, services and goods were allegedly overbilled, generating illicit funds.
The funds obtained through these inflated invoices were then purportedly channeled through sophisticated money laundering mechanisms. These mechanisms are said to have involved structures both within France and abroad, ultimately benefiting the primary instigators of the system. While the full extent of the scheme’s beneficiaries is still under investigation, Armando Pereira has been identified as one of its key architects.
Significant Assets Seized During Investigation
Throughout the course of the ongoing investigation, French judicial authorities have already seized substantial assets. More than 14 million euros (approximately 109 million RMB) have been frozen in various bank accounts. In addition to the monetary seizures, vehicles and luxury items have also been confiscated, underscoring the scale of the alleged illicit gains.
These seizures are a critical component of the investigation, aimed at recovering assets believed to have been acquired through the corrupt scheme and to prevent their further dissipation. The recovery of such significant assets highlights the financial impact of the alleged fraud on Altice Group.
Altice Group and Key Figures Under Scrutiny
The Altice Group, a major player in the global telecommunications and media sectors and the parent company of French mobile operator SFR, finds itself at the center of this international corruption probe. The allegations of widespread corruption within its operational framework pose significant questions about corporate governance and oversight.
Armando Pereira, a long-standing confidant and key executive for Patrick Drahi, the influential French-Israeli businessman and Altice France’s largest shareholder, is a central figure in the investigation. His arrest in Portugal in July 2023 marked a significant turning point, triggering the broader Franco-Portuguese cooperation. While the investigation has not detailed Patrick Drahi’s direct involvement in the alleged criminal activities, his close association with Altice and Pereira places the group’s leadership under intense scrutiny.
The allegations of a “vast corrupt system” operating within a major telecommunications group have sent ripples through the industry. Such a scheme, if proven, could have far-reaching implications for Altice’s market reputation, investor confidence, and ongoing business operations, including any potential strategic divestments or acquisitions. The investigation is expected to be protracted, given the complexity of the alleged financial flows and the international scope of the implicated structures.
Note on date discrepancy: The original source material indicated “Tuesday, November 18” for the searches, while the document’s effective date was 2025-11-18. Given the description of the event as having already occurred, it is highly probable that “Tuesday, November 18” refers to a past date, and the 2025 date is a typographical error. This report assumes the searches have recently taken place.
参考来源
- France: des perquisitions menées dans l'enquête pour corruption visant le groupe de télécoms Altice — RFI（2025-11-18）：查看原文