x Abu Dhabi, UAEFriday 28 July 2017

Former Elf chief charged with cheating Emirati businessman out of Dh176m

The former head of French oil giant Elf, Loik Le Floch-Prigent, has been charged with accessory to fraud in Togo, his lawyer has said.

The former head of French oil giant Elf, Loik Le Floch-Prigent, has been charged with accessory to fraud in Togo, his lawyer said yesterday.

Mr Le Floch-Prigent was questioned on Monday for three hours by a Togolese judge who handed down the charge following his lightning-fast extradition from Ivory Coast over the weekend.

The investigation involves a complaint from Emirati businessman Abbas Al Yousef who alleges he was the victim of a US$48million (Dh176m) fraud.

Mr Al Yousef claims Mr Le Floch-Prigent was acting as his personal adviser at the time.

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