BusinessCompany NewsFormer Vivendi chief arrested

Former Vivendi chief arrested

Former Vivendi Universal chief executive Jean-Marie Messier has been arrested as part of an investigation into 'financial misappropriation' at the media company.

Link: Ex-Vivendi chief’s pay frozen under Sarbanes-Oxley

Vivendi ran up debts to fuel acquisitions under Messier’s reign, before shareholders booted him in July 2002.

The investigation follows allegation of possible insider trading in Vivendi shares, according to the BBC.

Judges have been looking at sales of Vivendi stock in December 2001, shortly before a sharp fall in the company’ share price.

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