an investigation opened after “suspicious fund movements”

A survey for ” misuse of corporate assets “ was opened within the framework of the judicial liquidation of the automobile foundry MBF Aluminum, due in particular to “Suspicious fund movements”, announced, Thursday, June 24, the prosecutor of the Republic of Lons-le-Saunier, Lionel Pascal.

“During the proceedings before the commercial court, there were reports of suspicious movements of funds from the company MBF to other economic entities as well as remuneration not proportionate to the results of the company and benefiting the manager or to his relatives “, said Pascal in a press release. The newspaper Progress, who revealed the case, evokes the sum of 10 million euros drawn from the coffers of MBF.

The Lons-le-Saunier prosecutor’s office opened this investigation in April, the prosecutor said. “We are at the level of audits. “ In relation to the movement of suspicious funds, we must in particular see “Where they come from, where they are going and if they have a reason to go”, he added. Otherwise, “One of the parties to the proceedings reported levels of remuneration of the manager and his relatives not proportional to the results of the company, we also verify”, he continued.

Created immediately after the war, the MBF Aluminum foundry, which manufactures engine casings and gearbox parts, had been placed in receivership at the beginning of November, for lack of being able to repay its debts. The Dijon commercial court ruled on Tuesday the liquidation of this Jura company, which employed 270 employees.

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“We didn’t know where the money was going”

Its management, representing the shareholders – the British CMV and an Italian entrepreneur – had been dismissed by the commercial court during the reorganization, with the appointment of a receiver.

“Funds have left in the form of services in a holding company based in England”, said Nail Yalcin, delegate of the General Confederation of Labor (CGT). “We didn’t know where the money was going. Things have been done, but we do not know if it is legal or illegal ”, he adds, specifying that“There have already been several audits carried out by firms mandated by the government”.

Mr. Yalcin announced that the employees intended to appeal the decision to liquidate the company. “We will challenge Tuesday’s decision before the Dijon Court of Appeal and, at the same time, we are working on a project to take over the foundry by the employees”, did he declare. They have until July 4 to file their appeal.

Tuesday, the court did not accept the only takeover offer, brought by the French entrepreneur Michaël Azoulay, which provided for the takeover of just over 200 employees. The unions denounced the “Passivity” of Renault and PSA (Stellantis), which were MBF’s biggest customers, and of the State, from which they hoped for rescue aid of several million euros.

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The World with AFP