Shares in Orpea fell 13% on Wednesday afternoon following revelations by Mediapart that a Luxembourg investor from the Ehpad group may have carried out “shady transactions”.
Orpea’s title fell 13% Wednesday afternoon on the Paris Stock Exchange due to Mediapart revelations that a private nursing home group is being threatened”financial scandal“because of a Luxembourg company that has invested in its residences and that would have made”dubious transactions“. At 15:25, when the market fell 0.81%, the shares fell 13.05% to 29.26 euros.
Established in 2007, Luxembourg-based holding company Lipany has “accumulated 92 million assets“,”mostly stakes in many nursing homes and clinics run by Orpeain several European countries, including France, andconducted suspicious financial transactions“. Lipani is owned, according to Mediapart, by Roberto Tribuno, an accountant and tax consultant who was the boss of Orpea in Italy. This holdingmakes almost no profit and has never distributed dividends“his activities”financed entirely by debt“, So “opaque to say the least– write the investigative media.
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Orpea wants to ‘shed light on the allegations’
In a brief statement sent to AFP, Orpea management indicated they were unable to comment.”justice seized“: The company recalls that it recently filed a complaint against X for misuse of corporate assets with the public prosecutor’s office of Nanterre in Hauts-de-Seine. Concerned”shed light on the allegations against the group» since the publication of the book-investigation gravediggers Victor Castane, management says “identified potentially criminal facts that cast doubt on individual behaviorOrpea also emphasizes thatfirst disciplinary action, several people have already left the companyThe group mentions by name the case of former CFO Sebastien Ménard, who, according to Mediapart, was in “Close cooperationwith Lipans. “Sebastien Mesnard no longer works for the company and does not have access to his email.management said in a statement. “We continue to investigate and will take all necessary measures and sanctions.“, she added, recalling that “these facts have nothing to do with the reception and care of residents“.
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Under criticism since its publication at the end of Januarygravediggers“Orpea is also the subject of an investigation launched in Nanterre at the end of April on suspicion of mistreatment or financial crimes. Other investigations are ongoing from February to “forgery and use of forgery and violation of labor laws through the abuse of fixed-term contractsSince the start of the scandal on January 24, the price of Orpea has fallen by about 64%.
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