Sarkozy convicted in Paris court as LAIP awarded €8.5 million

The Paris Criminal Court has issued a ruling convicting former French president Nicolas Sarkozy and several of his associates, after finding that they received unlawful funding from the former Libyan regime for Sarkozy’s 2007 presidential campaign.

Under the judgment, Sarkozy and the other defendants were sentenced to five years in prison with immediate effect. The court also recognised the Libyan African Investment Portfolio (LAIP) as a civil party in the proceedings and ordered the defendants jointly to pay €8,350,100 in compensation for material damages, €100,000 for moral damages, and €25,000 to cover legal expenses.

In a statement seen by Libyan Express, LAIP said the ruling reflects the outcome of its legal efforts to pursue its rights and safeguard Libyan assets abroad. The institution reiterated its commitment to continuing work aimed at recovering Libyan funds and properties and ensuring their protection.

The statement also expressed appreciation to LAIP’s Board of Directors, executive management and staff for their role in the process, and acknowledged the support of the Libyan authorities in reaching this outcome.