A preliminary investigation of the head of “insider trading” has been opened to study the resale of shares by the former general manager of the Orpea group, before the publication of a book which caused a scandal on abuse in nursing homes, reported Monday, February 14, the National Financial Prosecutor’s Office.
The chained Duck explained on February 2 that Yves Le Masne, managing director of the group for more than ten years and recently sacked, had sold shares in July for nearly 600,000 euros, “just three weeks after Orpea management was informed of the forthcoming publication of the book” by Victor Castanet The Gravediggers.
Information that the ex-director general has refuted “quickly”. In a statement sent to Agence France-Presse by his lawyer after the revelations of the Duckhe ensures that the sale of“about a third of [ses] actions » n’a “nothing to do with M. Castanet’s book, which did not create any particular concern for us”. He claimed not to have ” no reason “ to sell more shares, “having full confidence in the future of the company”.
“Mid-summer is when I usually sell stocks, as my statements published earlier show” and “I have always carried out my share sales within the authorized periods and made all regulatory declarations to the competent authorities”.
CEO of Orpea for ten years, Yves Le Masne was sacked on January 30 by Orpea’s board of directors after these revelations. He was replaced by Philippe Charrier, promoted from non-executive chairman to CEO.
Controls and double investigation
In reaction to the publication of Victor Castanet’s book, the government announced that it would present proposals by the end of the month to prevent abuse in nursing homes and that it was deciding on a “extensive control operation” within the Orpea group.
The authorities have also announced the opening of a “dual investigation” administrative on Orpea, entrusted to the general inspectorates of social affairs (IGAS) and finances (IGF).
Families of nursing home residents, employees and unions have also approached law firms to take legal action against various establishments, including Orpea and Korian.
The Senate also intends to open a commission of inquiry. The National Assembly’s social affairs commission did not set itself up as a commission of inquiry, despite requests from the opposition. Its members heard, last week, the CEO of the retirement home giant, Philippe Charrier, and are preparing to audition, on Wednesday, the director general of the Ile-de-France regional health agency, Amélie Verdier, and Mr Castanet.
A parliamentary commission of inquiry has very significant powers. The people it summons for a hearing are required to appear and testify under oath. It may also require the communication of certain documents. Refusal to cooperate and false testimony are subject to criminal penalties.
The group, for its part, announced the creation of an assessment mission by two independent firms on the accusations against it.
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