Seizure of tycoon’s assets could damage Sarkozy

Judges have ordered a Mediterranean villa and other assets to be seized from a French businessman at the centre of a fraud investigation that could weigh on ex-president Nicolas Sarkozy’s hopes of a comeback, sources said.

Bailiffs will confiscate assets worth tens of millions of euro belonging to tycoon Bernard Tapie, in a move that suggests investigating judges believe they have evidence of fraud in a €403m arbitration payment he got in 2008 under Sarkozy’s presidency.

Finance minister Pierre Moscovici said the Socialist government, which took power after Sarkozy’s May 2012 election defeat, had asked for “protective measures” to be taken in case reparations needed to be made to the state.