Europe 1 with AFP 3:34 p.m., June 07, 2022

The former CEO of the Orpea group has been heard freely since Tuesday morning as part of the investigation for "insider trading" concerning his resale of shares before the publication of the book-scandal on abuse in nursing homes.

He had sold last July for 588,000 euros of shares in the group just after learning of the publication of Victor Castanet's book.

The ex-director general of the Orpea group has been heard freely since Tuesday morning as part of the investigation for "insider trading" concerning his resale of shares before the publication of the book-scandal on abuse in nursing homes, learned AFP from a source familiar with the matter.

Yves Le Masne, managing director of the private nursing home group for more than ten years and sacked at the end of January, is interviewed by the gendarmes of the Paris research section in charge of the investigation opened by the national financial prosecutor's office (PNF), said this source.

588,000 euros of shares sold in July 2021

Le Canard enchaîné indicated on February 2 that Yves Le Masne had sold shares in the group last July for 588,000 euros "only three weeks after the management of Orpea was informed of the forthcoming publication of the book" by Victor Castanet .

The book "Les gravediggers" accuses Orpea of ​​serious shortcomings in the management of its nursing homes, which the group refutes.

Yves Le Masne had "strongly refuted any accusation of insider trading".

He assured that the sale of "about a third of (his) shares" had "nothing to do with Mr. Castanet's book, which did not create any particular concern for us".

He also clarified that he had "no reason" to sell more shares, "having full confidence in the future of the company".

Yves Le Masne refutes all the accusations

“Mid-summer is when I typically sell stocks, as evidenced by my previously released statements” and “I have always made my stock sales within the permitted time periods and made all regulatory filings to authorities competent," he also said.

The Orpea group has also been targeted since April by another judicial investigation, opened in Nanterre, on suspicion of institutional mistreatment or financial offences, entrusted to the gendarmes of the Versailles Research Section.

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These investigations were joined to those, launched in February, for “forgery and use of forgery and violation of labor legislation by abusively resorting to fixed-term contracts”.

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