French prosecutors have requested a three-year suspended prison sentence, along with one year of house arrest, for Jean-Charles Naouri, the former CEO of the French retail group Casino, during a trial involving allegations of price manipulation and corruption.
The prosecution also called for a fine of €2 million (about $2.3 million) against Naouri, and another fine of €75 million against the Casino group itself.
Naouri faces charges of organized market manipulation and corruption, as he is accused of paying money between 2018 and 2019 to publish media articles defending the Casino group, in an attempt to boost its share price after it collapsed in 2018 due to concerns over its debt.
Naouri has denied all the charges, while his lawyers have not yet commented on the prosecution’s requests, which were submitted last Thursday evening.
In a statement, Casino said that the prosecution’s requests do not constitute a verdict and are not binding on the court, noting that the final ruling is expected on October 22.
The company, which is currently implementing a major restructuring plan, added that the prosecution’s claims fail to take into account the significant changes within the new Casino group — in terms of size, financial situation, and management — compared to when it was led by Naouri. The company’s lawyers will therefore seek a full acquittal.
Casino owns retail chains such as Monoprix, Franprix, and Naturalia. In 2024, it sold a total of 336 stores and is planning to cut 3,200 jobs as part of its restructuring process.
