France has blocked an amount of 65 million euros, which was frozen on August 19 through the Belgian judicial system. According to National Financial Prosecutor Pascal Prache and Brussels prosecutor Julien Moanin, this sum represents '96% of the tax damage according to PNF's assessment.'
McKinsey, which is under investigation for money laundering resulting from aggravated tax fraud, told AFP that the temporary freeze is 'a procedure related to the preliminary investigation conducted by French authorities' and 'does not constitute a final court decision.'
The American consulting giant emphasized: 'We continue to cooperate with French authorities and contest any alleged breaches on our part. We confirm our commitment to fulfilling our tax obligations in France and in all countries where we operate.'
McKinsey & Company has been the subject of this preliminary investigation since March 2022. The investigation was initiated following a request from the Senate committee and assigned to the National Anti-Fraud Office (ONAF).
The criminal investigation was opened to determine a possible tax scheme affecting McKinsey's French subsidiaries. This scheme allegedly allowed the company to avoid corporate income tax in France between 2011 and 2020.
After hearing witnesses and suspects, PNF requested assistance from Belgian justice 'as part of international cooperation,' as stated in today's announcement.
It is important to note that this block is unrelated to subsequent judicial investigations concerning alleged 'violations in campaign finance reporting' linked to the activities of consulting firms during Emmanuel Macron's presidential elections in 2017 and 2022.
These other investigations included searches at the residences and offices of McKinsey executives and former executives, as well as at the consulting firm's headquarters in Paris, the French Ministry of Health, and the headquarters of Emmanuel Macron's party, Renaissance, and its funding association.