"Priced Affordably Yet Unsold Properties," "Consultancy Firm With No Customers,"... "The Company Tied Down."
Uncovering a Financial Mystery: Le Canard Enchaîné and Eric Lombard's Controversial Wealth Declarations
In a sharp turn of events, the satirical weekly, Le Canard Enchaîné, has accused the Minister of Economy, Eric Lombard, of skimping on the true value of his wealth. The latest issue of the publication alleges that Lombard has undervalued his share in a luxurious villa in La Trinité-sur-Mer, Morbihan, by a significant margin.
Purchased back in 2004 for a whopping 1.8 million euros, the villa boasts a 410 m² living space and a 1,800 m² plot with an ocean view. Lombard claimed to have spent 1,079,665 euros on renovating the property, yet Le Canard Enchaîné questions the minister's calculations, citing that, twenty years later, he claims the villa is now worth a meager 600,000 euros. Real estate experts, on the other hand, estimate that properties of such grandeur are worth anywhere between 3.5 and 4 million euros.
A Hidden Fortune?
The controversy doesn't end there. Lombard has also been called into question regarding an 180 m² apartment in a chic area of the capital, which he purchased for a hefty 2.8 million euros in 2020, only to declare its value as 1.4 million euros to the High Authority for Transparency in Public Life (HATVP).
A Matter of Ownership
In response to the allegations, Lombard and his camp have maintained that they have only owned half of the shares in these properties and have complied with the HATVP's calculation method. For the Breton house, Lombard's team claims that the discrepancy is due to him only owning 50% of the property and having usufruct. The same line of defense has been applied for the apartment.
The Mysterious Consulting Firm
Another issue raised by Le Canard Enchaîné involves a consulting firm, Halmahera, directed by Lombard's wife since 2017. The company, with only one employee and no clients, manages to generate a staggering 6 million euros in annual dividends. The minister's camp explains that Halmahera is an investment company whose core activity consists of holding participations, primarily via the economic group Greenstock. They also claim that neither the Halmahera company nor its shareholders can intervene in the decisions concerning the participations held by Greenstock.
A War of Words
In a counter-attack, Bercy, the ministry from which Lombard hails, has reproached the newspaper for not mentioning "part of its responses, provided in transparency". However, Le Canard Enchaîné stands by its accusations and continues to question the "sacred difference" between the value of the goods declared by the former boss of the Caisse des Dépôts and the market prices.
As the debate rages on, the public awaits further clarification on the matter and more detailed explanations from the minister himself.
The controversy surrounds not only Eric Lombard's wealth declaration for his seaside villa and city apartment, but also the significant revenue generated by his wife's consulting firm, Halmahera, with minimal reported activity. Despite Bercy's defense, Le Canard Enchaîné persists in questioning the disparity between Lombard's declared assets and market values, fueling speculation about a potential hidden fortune.
