Former Minister Caroline Cayeux pinned down by the High Transparency Authority is suspected of tax evasion. It would have reduced the value of two properties by several million euros.
Has Caroline Cayeux deliberately camouflaged part of her (huge) heritage? The day after his resignation, the former Minister Delegate in charge of Territorial Communities saw his file transmitted by the High authority for the transparency of public life (HATVP) to the public prosecutor, Tuesday, November 29, 2022. Investigations must be carried out to confirm or invalidate the “suspicions of misleading valuation of assets” and possible “tax fraud”. The news is however not a surprise for the multimillionaire who indicated on November 28 in a press release that she had been warned by the HATPV of the suspicions of undervaluation in her declaration of assets. It is this news that would have pushed the minister to resign from the government. A departure that must be understood as a confession? Still, if Caroline Cayeux wanted to keep the inventory of her assets – or at least its value – confidential, the objective has been partly achieved since, given her resignation, her declaration of assets will never be made public. But that was without counting on media inquiries to list its exceptional properties and goods and especially their financial weight.
Voluntary concealment of Caroline Cayeux’s fortune?
It is common knowledge that Caroline Cayeux is a multimillionaire, a very heavy portfolio due to a family inheritance and the possession of real estate and land. But the exact amount of the fortune of the septuagenarian is not known and it is not impossible that the politician wanted the situation to remain as it is. But the reduction, and therefore the concealment of part of one’s assets, can respond to the offense of “false evaluation of one’s assets (article 26 of the law of October 11, 2013)” punished “with a sentence of three years’ imprisonment and a fine of 45,000 euros” in addition to a sentence of ineligibility. Tax evasion is also likely to be held against Caroline Cayeux according to the HATVP which relies on thearticle 1741 of the general tax codewhich posits that “anyone” has “voluntarily concealed part of the sums subject to tax […] shall be liable, independently of the applicable tax penalties, to imprisonment for five years and a fine of 500,000 euros, the amount of which may be increased to double the proceeds derived from the offence”. The voluntary nature of the reductions made by Caroline Cayeux in her statement does not leave too much doubt for the HATVP, which specifies that already in 2021, the septuagenarian had been warned of the undervaluation of her assets in addition to the penalties which were incurred in the event of repetition. determine for which heads the ex-minister may have been responsible but for the time being, Caroline Cayeux remains presumed innocent.
Real estate reduced by 4 million euros?
Caroline Cayeux owns several properties but only two caught the attention of the HATVP and are mentioned in the Mail Picard. First, a 500m² Haussmann building at 1 place de l’Alma, in one of the most beautiful areas of the capital with a breathtaking view of the Eiffel Tower and at the foot of the bridge and monument to Lady Di. The flashy building and 99% owned by the former minister is estimated at 12.2 million euros in a first declaration of interests, a value that matches the price per square meter displayed around €20,000 in this district. from Paris. Problem, according to the HATVP, Caroline Cayeux has reduced the value of her main residence, for which it is not specified whether the entire building or only an apartment occupied by the septuagenarian is taken into account, by 2,400,000 €.
Concealment or reduction of assets does not stop there. The former minister also owns a house in Dinard (Ille-et-Vilaine) according to the Picard newspaper. The value of the residence is not known but the HATVP announces that a reduction of €1,500,000 has been made by Caroline Cayeux in her declaration. Combined, the two reductions correspond to “about half of the overall value of these two goods”. But the organization does not specify whether the proportion of the reduction was the same for each property.
An inherited fortune
If Caroline Cayeux’s declaration of assets will never be made public given her resignation, it is well known that the former senator is a multimillionaire. In addition to the two properties at the heart of the HATVP’s suspicions, she owns an apartment near Beauvais cathedral worth around €200,000, according to the Courrier Picard, as well as forests in Sologne. To which must be added draft horses.
This heritage, Caroline Cayeux did not constitute it alone. It is an accumulation of legacies, she who is a descendant of the founders of the car manufacturer Panhard, active during the first half of the 20th century, but also of Pierre Fournier, ex-CEO of Fournier laboratories, 4th French pharmaceutical laboratory. independent in the early 2000s.