Le Pen Convicted of Embezzlement... French Judiciary Deals Blow to Right-Wing Leader
Banning Le Pen from running for elections for five years with immediate effect poses an existential challenge to the far-right movement in France and raises questions about the future leadership and p
March 31, 2025, 10:04 pm

Le Pen Convicted of Embezzlement... French Judiciary Deals Blow to Right-Wing Leader

A Paris court on Monday issued a ruling convicting far-right leader Marine Le Pen of embezzling public funds along with eight European MPs from her National Rally party, sentencing her to four years in prison with two years suspended and fining her 100,000 euros.

This ruling comes at a time when opinion polls indicated Le Pen was leading in the anticipated presidential race, which paints a new political landscape in France.

The criminal court in Paris decided that Le Pen is ineligible to run for elections with immediate effect for five years, placing a major obstacle in front of her political ambitions and threatening to deprive her of running in the 2027 presidential elections.

This judicial decision reflects the desire of French institutions to apply the law to all politicians regardless of their status or popularity.

The court president confirmed that "this is about ensuring that elected officials, like all litigants, do not benefit from preferential treatment," while Le Pen left the courtroom without waiting to hear the full verdict and made no statement.

The possibility of declaring her ineligible to run "with immediate effect" was a major concern for Le Pen, even with the possibility of appealing the ruling, as she previously described this scenario as representing "political death" for her.

The court estimated the total financial damages at around 2.9 million euros, considering that the accused European MPs "burdened the European Parliament with the expenses of people who were actually working for the party."

The case revolves around accusations of concluding "fictitious contracts" with parliamentary assistants who were actually working for the party between 2004 and 2016, practices the court considered illegal and an exploitation of public resources.

In November, the prosecution had requested a five-year prison sentence for Le Pen, including two years of enforceable imprisonment subject to modification, and a ban on running for elections for five years.

Opinion polls indicated that Le Pen was poised to lead the first round of presidential elections, obtaining 34 to 37% of voting intentions, although this does not guarantee her final victory after her defeats in 2017 and 2022 in the second round against current President Emmanuel Macron.

The total number of defendants in the case is 28 people, and the accusations involve an amount of approximately 7 million euros ($3.7 million), noting that Le Pen paid 330,000 euros to the European Parliament in 2023, with her party confirming that this does not imply an admission of any misconduct.

Le Pen and the other defendants deny having committed any violations, while these accusations have haunted her and her party for many years, and the current conviction may affect the future of the far-right movement in France and Europe.

Successive Strikes... American Raids Target Houthi Weapons Caches in Sanaa Escalating Tension Between Washington and Moscow Over Ukraine's Future

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.