French Detain Executives of U.S. Life Insurance Subsidiary for Tax & Money Laundering Charges

On May 6, 2001, the media reported that French law enforcement had detained 11 of PanEuroLife’s executives as part of a French investigation into possible tax fraud and money laundering. The persons detained have included Jacques Drossaert, the chief executive of PanEuroLife, who traveled to France after other staff were held and was then himself detained…[more]