Canada markets close in 1 hour 38 minutes
  • S&P/TSX

    21,239.34
    -298.11 (-1.38%)
     
  • S&P 500

    4,587.32
    -75.53 (-1.62%)
     
  • DOW

    35,417.98
    -493.83 (-1.38%)
     
  • CAD/USD

    0.7982
    -0.0008 (-0.10%)
     
  • CRUDE OIL

    85.13
    +1.31 (+1.56%)
     
  • BTC-CAD

    52,206.61
    -1,012.72 (-1.90%)
     
  • CMC Crypto 200

    992.50
    -16.89 (-1.67%)
     
  • GOLD FUTURES

    1,814.50
    -2.00 (-0.11%)
     
  • RUSSELL 2000

    2,111.81
    -50.64 (-2.34%)
     
  • 10-Yr Bond

    1.8500
    +0.0780 (+4.40%)
     
  • NASDAQ

    14,579.55
    -314.21 (-2.11%)
     
  • VOLATILITY

    22.28
    +3.09 (+16.10%)
     
  • FTSE

    7,563.55
    -47.68 (-0.63%)
     
  • NIKKEI 225

    28,257.25
    -76.27 (-0.27%)
     
  • CAD/EUR

    0.7041
    +0.0040 (+0.57%)
     

French junior finance minister resigns after conviction

·1 min read
FILE - Alain Griset, who worked in the Finance Ministry and oversaw relations with small and medium-sized businesses, arrives for a meeting with labor union representatives and French President Emmanuel Macron at the Elysee Palace in Paris, Wednesday June 24, 2020. The junior finance minister quit the French government Wednesday Dec. 8, 2021 after being convicted of failing to declare all his wealth and income. The unusual conviction of a minister in office is a stain on the government of President Emmanuel Macron, who had promised a wholesale cleanup of political life when he was elected in 2017. (Ludovic Marin / POOL via AP, File)

PARIS (AP) — A junior finance minister quit the French government Wednesday after being convicted of failing to declare all his wealth and income.

The unusual conviction of a minister in office is a stain on the government of President Emmanuel Macron, who had promised a wholesale cleanup of political life when he was elected in 2017.

Alain Griset, who worked in the Finance Ministry and oversaw relations with small and medium-sized businesses, was convicted of submitting an incomplete wealth declaration to the government transparency authority. He was handed a six-month suspended prison sentence and a three-year suspended ban on holding public office.

Griset’s office said in a statement that he has appealed Wednesday’s court decision, but submitted his resignation pending the appeal. It wasn't immediately clear whether he would be replaced.

French media reported that Griset had failed to declare financial holdings including stock-based bank accounts and stocks in leading French companies, and that during his trial he said he failure to declare was the result of “clumsiness” and bad financial advice.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting