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. Last Updated: 07/27/2016

Alcatel Fraud Inquiry

PARIS -- The chairman of France's biggest private industrial group, Pierre Suard of Alcatel Alsthom SA, said Tuesday he was under investigation on corruption charges for allegedly underpaying for security measures at his home. Suard, who denied the charges, was released on bail of 1 million francs ($184,000) by the investigating judge, Jean-Marie d'Huy, after a 12-hour grilling by the police fraud squad. D'Huy placed Suard under investigation for fraud, corruption and misuse of public funds, making him the most senior French businessman so far to be caught up in a series of probes into alleged irregularities.