Lafarge To Stand Trial In France For Alleged Terrorism Financing

The choice follows a prolonged investigation launched in 2016 by France’s anti-terrorism prosecutor, marking one of the crucial vital company prison circumstances in French authorized historical past.

French cement producer Lafarge, a subsidiary of Holcim, is ready to face trial in a French courtroom on critical prices of financing terrorism and breaching European sanctions to take care of operations at its Syrian plant.

The choice follows a prolonged investigation launched in 2016 by France’s anti-terrorism prosecutor, marking one of the crucial vital company prison circumstances in French authorized historical past.

In the meantime, investigative judges in Paris gave the order Lafarge face trial on Wednesday.

Reuters studies that on Thursday, Lafarge confirmed it had acknowledged the judges’ resolution.

Following the announcement, shares of Holcim, Lafarge’s mother or father firm, dropped practically 2% in late Wednesday buying and selling earlier than barely recovering to shut down 0.7%.

The continuing investigation focuses on allegations that Lafarge was complicit in crimes in opposition to humanity as a part of a broader inquiry into the corporate’s operations in Syria after the outbreak of battle in 2011.

The criticism was introduced forth by the anti-corruption group Sherpa.

In January, France’s highest courtroom rejected Lafarge’s request to dismiss the costs of complicity in crimes in opposition to humanity from the investigation.

The allegations additionally embrace prices associated to a European ban on monetary or industrial ties with Islamist militant teams, together with Islamic State and Al-Nusra, in accordance with Sherpa.

Nonetheless, in a separate investigation in the USA, Lafarge admitted in 2022 that its Syrian subsidiary paid teams designated as terrorists by Washington, together with Islamic State, to make sure the protection of workers at its plant amid the continuing civil battle.

French cement maker Lafarge to face trial on terrorism funding prices