January 26, 2022

Hairdresser Franck Provost indicted for aggravated tax fraud laundering

One of the pundits of the French hairdressing, Franck Provost, was indicted for “abuse of corporate assets” and “money laundering in an organized group of aggravated tax fraud”, announced Thursday, December 23, the Nanterre public prosecutor’s office in a communicated to Agence France-Presse (AFP).

Since this indictment, which took place on Tuesday during his presentation to an examining magistrate in Nanterre, the founder of the Provalliance group has been under judicial control “With a deposit set at several hundred thousand euros”, said the prosecution.

According to the prosecution, “Several reports” have been “Transmitted by the tax authorities in 2017 concerning the use of fraudulent cash register software to divert cash receipts from a network of hairdressing salons”. The 75-year-old businessman is also indicted for “providing equipment and programs to commit offenses and breaches of automated data processing systems”.

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Facts ranging from 2001 to 2021

Contacted by AFP, the lawyer for the Provalliance group did not respond immediately. A preliminary investigation was opened and entrusted to the national brigade for the repression of fiscal delinquency of the Central Office for the fight against corruption and financial and fiscal offenses. The investigation covers events ranging from 2001 to 2021.

On April 9, an opening of judicial information had given rise to the indictment of the administrative and financial director of the group. It relates in particular to offenses of “abuse of corporate assets and complicity, breach of trust, tax fraud and complicity, money laundering in an organized group of aggravated tax fraud, illegal exercise of the profession of accountant, possession, offer, provision of equipment and programs for committing offenses and breaches of automated data processing systems ”.

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Provalliance is the number one in the hairdressing sector in Europe. Founded by Mr. Provost, the group owns seventeen brands, including the star brands Franck Provost, Jean-Louis David and Saint-Algue, and relies on a network of nearly 3,000 salons located in 35 countries. The group was bought out at the start of the year by a Brussels-based investment fund, Core Equity.

The World with AFP