The Altrad group, specialized in services for the construction industry and based in Montpellier, is under investigation by the national financial prosecutor’s office for aggravated tax fraud and organized money laundering. Searches have been conducted at the company’s premises, which employs 65,000 people worldwide. The investigations focus on an international scheme that allegedly allowed evasion of between 350 and 400 million euros from the French tax authorities during the period 2018-2024.
An International Scheme Under the Spotlight
The criminal investigation aims to dismantle what appears to be an organized system of tax fraud. Investigators suspect the establishment of an international mechanism intended to divert substantial sums from the State’s coffers. The case concerns acts qualified as aggravated tax fraud and laundering of aggravated tax fraud in an organized group, offenses punishable by severe criminal sanctions.
An Industrial Giant in Turmoil
This case involves one of the heavyweights of the French industrial sector. The Altrad group has established itself as a major player in equipment and services for the building and public works sector. The searches conducted in France mark a significant step in this judicial procedure that could have important repercussions for the Montpellier-based company.
