French asset management firm Carmignac Gestion SA is being probed by French financial prosecutors for money laundering and tax fraud, Reuters reported, citing a source familiar with the matter.
The firm denied any wrongdoing and said it would pay an undisclosed sum to tax authorities, the news agency reported, citing a statement by the company.
The investigation was focused on how Carmignac Gestion paid certain executives through dividends, Jean Tamalet, a lawyer representing the asset management firm, said.
