France's Highest Court Upholds Sarkozy's Corruption Conviction

Investing.com -- France's highest court, the Court of Cassation, confirmed former President Nicolas Sarkozy's conviction for corruption and influence peddling on Wednesday. Sarkozy had appealed his three-year prison sentence (two of which were suspended) issued in 2021. The former president will wear an electronic bracelet instead of spending the last year of his sentence in prison.

Despite stepping down in 2012, Sarkozy remains a significant figure in French politics. He was found guilty by a lower court of attempting to bribe a judge and of using his influence to obtain confidential information related to an investigation into campaign financing for the 2007 election. The court ruled that Sarkozy conspired to arrange a job for a judge in Monaco in exchange for inside information regarding allegations of illegal payments he received from L'Oreal heiress Liliane Bettencourt.

Judge Gilbert Azibert was also convicted of corruption and influence peddling. Sarkozy is expected to stand trial next year on charges of corruption and illegal financing related to allegations that his successful presidential campaign in 2007 was financed by the Libyan Arab Jamahiriya. Sarkozy denies all charges.

If found guilty in the Libya case, Sarkozy could face up to 10 years in prison. His predecessor Jacques Chirac is the only other president in modern French history to have been convicted by a court. Chirac was found guilty of corruption in 2011, four years after leaving office.