Tony Estanguet, president of the organizing committee, was targeted by an investigation into his remuneration.
The president of the organizing committee for the Olympic and Paralympic Games (COJOP) in Paris, Tony Estanguet, is the target of an investigation recently opened by the National Financial Prosecutor’s Office and concerning the terms of his remuneration, we have learned. world From a source close to the matter on Tuesday, confirming the information of Agence France-Presse (AFP). The investigation was assigned to the Economic Crimes Suppression Brigade within the Parisian Judicial Police.
According to figures communicated by Cojop in 2018, Tony Estanguet received a total annual remuneration of 270,000 euros until 2020. But since COJOP is a 1901 Act type of association, the remuneration of its directors is limited by law to a significantly lower level. What rejects “formally” The organizing committee, which expressed it “surprise” on Tuesday On announcement of initiation of investigation.
“The committee pursues the goal of general interest but in the financial sense of the word, especially since it is financed almost entirely – 96% – by commercial income, as it does not have a disorderly management”Cojopane argues the world “Unlike non-profit organisations, for which executive remuneration is subject to a ceiling, Paris 2024, for example, is subject to VAT under common law conditions”He adds clearly “The lucrative nature of his activity linked to his business income – participation, ticketing, television rights – was confirmed by the tax ruling”.
“Risks of Potential Breach”
According to a recent article in Chained ducksThe former sportsman may have created a company that does invoicing “Non-Business Services” At Kojop, which he directs. The control of which raises questions “Reality and Quality of Services” Conducted by the Estanguet Company, the newspaper continued October. “The structure for the remuneration of the Chairman of the Organizing Committee is very strictly controlled”Cojop responded to AFP on Tuesday.
Remuneration of Tony Estanguet “Decided and approved by the first Board of Directors of the Organizing Committee on March 2, 2018, which, in his absence, ruled sovereignly and independently”, refers to Cojop. The amount of remuneration was fixed on the proposal of A “Compensation Committee” to be made of“Independent experts responsible for ensuring consistency of our remuneration policy”adds Cojop. “The terms of its payment were approved by the Controller General of Economic and Financial Affairs, after consultation with Ursaf”.
“Amounts invoiced under this remuneration are subject to annual audit” by one “Internal Audit Unit Independent of Examination by Executive and Remuneration Committee of Organizing Committee”Authority says this makes it clear “The approach does not correspond to any legal obligation but responds to the desire for transparency”.
In early 2021, two reports from the French Anti-Corruption Agency (AFA) on the organization of the Games were registered. “Risk of Potential Breach” And no “Conflict of Interest”. In one of these reports, the AFA cited the case of Tony Estanguet’s company, it noted “Special arrangement within the framework of the 1901 Law Association”WHO “Not without its difficulties”remember Chained ducks.
