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Bugshan implicated in French fraud case
Saudi businessman Khalid Bugshan has been banned from leaving France, as investigators examine his links to a highly sensitive political trial. The case, which stems from an investigation into allegations that Nicolas Sarkozy received Libyan money to finance his 2007 election campaign, centres around €500,000 ($530,000) sent in 2008 to the account of Claude Guéant, then Sarkozy’s chief of staff. Guéant claims he got it from a Malaysian lawyer in return for two paintings by minor 17th century Flemish painter Andries van Eertvelt; investigators, noting Eertvelt’s paintings have never fetched such an amount, suspect the money may have originally come from Bugshan.
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