FRANCE: Designer Regina Rubens gets suspended prison sentence
Women's fashion designer Regina Rubens - who headed the clothing firm of the same name - and Séverine Chapellier, her former financial director, have been handed 18-month suspended prison sentences for "the divulgation of incorrect and misleading information" relating to the company's accounts between 1998 and 2001.
Rubens and Chapellier have also been handed fines of EUR250,000 (US$323,106) and EUR160,000 respectively.
The court's verdict also encompasses compensation for Regina Rubens shareholders who had invested in the company on the basis of published accounts which were false.
LV Capital, a subsidiary of LVMH which has a 3% stake, has obtained EUR1.5m in compensation while small, private shareholders will also be indemnified.
With the influx of new shareholders, led by Financière Louis David, with a 25% stake, Regina Rubens SA was re-named Montaigne Fashion Group in September last year. Mrs Rubens holds 12% of its capital.
By Stuart Todd.
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