Cahuzac affair

On 19 March 2013 Jérôme Cahuzac resigned as a minister in charge of fighting against tax fraud due to tax fraud allegations. He later admitted that he had held a secret foreign bank account for about 20 years. As a consequence, he was officially excluded as a member of the Socialist Party. The release of the Panama Papers confirmed that Cahuzac owned a Seychelles company named Cerman Group Limited, incorporated in 2009, whose director and shareholder were from other offshore companies. Jérôme Cahuzac was sentenced to three years in prison and five years of ineligibility on 8 December 2016.