Prosecutors probe alleged illegal election financing

French national financial prosecutors said Thursday they have opened an investigation into suspected illegal financing of electoral campaigns in 2017 and 2022. A leading French newspaper reported that the probe targets President Emmanuel Macron’s winning election bids.

Prosecutors said in a written statement they wanted to bring clarifications following press reports, in an apparent reference to newspaper Le Parisien reporting earlier in the day on an alleged investigation regarding Macron’s 2017 campaign and its links to U.S. consulting company McKinsey & Company. The prosecutors’ statement, without citing Macron or his party, said a judicial inquiry was opened Oct. 20 about alleged “inconsistent campaign accounts” and “reduction of accounting items” in relation with consulting companies operating during electoral campaigns of 2017 and 2022.

The next day, another investigation was opened over alleged favoritism in relation to those campaigns, it said. Campaign financing in France is strictly regulated. Le Parisien, citing anonymous sources, said magistrates are focusing on conditions under which some major contracts between McKinsey and the state were concluded after Macron’s election.