Frédéric Pierucci

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Frédéric Pierucci
Born (1968-01-14) January 14, 1968 (age 53)
NationalityFrench
Alma materISAE-ENSMA, INSEAD, Columbia University
OccupationBusiness person
EmployerAlstom

Frédéric Pierucci, (born 14 January 1968), is a former senior manager for Alstom, accused of corruption by the United States government in 2014.[1] He was arrested and detained in United States for many years.[2]

His story is frequently presented in France as an example of the hostage diplomacy and economic warfare waged by the United States, including against its purported allies. Indeed, his arrest and imprisonment occurred during the purchase of the Energy section of Alstom by General Electric.[3]

Education and Career[]

He graduated from the ISAE-ENSMA and the INSEAD, and received an MBA from Columbia University.[4]

During the 2000s, he became marketing and sales director in the « chaudières » section of Alstom, a large French transportation and energy company.[5]

Imprisonment in the United States[]

Starting in 2009, Alstom's practices are questioned by the United States Department of Justice (DOJ), which violated the 1977 Foreign Corrupt Practices Act. This American law has extraterritorial scope. At the time, Alstom seemed to cooperate with the proceedings.[6]

En 2010, the DOJ opened an investigation into Alstom commercial practices, especially on a 2003 deal in Indonesia worth 118-million dollars.[7]

On April 13, 2013, Frédéric Pierucci was arrested at the John F. Kennedy International Airport in New York. He was accused of willful blindness of his company's suspected corruption. Immediately upon his arrest, he was requested to become an FBI informant inside Alstom, an offer which he refused. He was thus kept in custody and denied release on bail.[8][9]

He is fired from Alstom on 20 September 2013, and thus stopped benefitting from their judicial assistance.[9][10]

He spent 14 months in high-security prison facilities.[11] In April 2014, he learned the energy section of Alstom was sold to the American company General Electric. This made him understand that his arrest, denial of bail, and continued imprisonment were part of a strategy of economic warfare and hostage diplomacy. He self-describes as an "economic hostage".[12][13]

The French government had initially blocked General Electric's acquisition of Alstom. But after Arnaud Montebourg's resignation as Minister of the Economy and Finance, he was replaced by Emmanuel Macron, who relented and approved the sale. Pierucci was released on bail during the same week of the purchase.[12]

In September 2017, a Connecticut court condemned Pierucci to two years and a half in jail.[12] He was liberated in September 2018.[14]

Aftermath[]

He co-wrote a book abou the affair: The American Trap.[15] France Inter adapted the book as a radio show and podcast.[13]

In 2020, Frédéric Pierucci tried to organize French investors to buy back Astom's former nuclear energy assets from General Electric.[2] Arnaud Montebourg suggests the French government should lead the effort for strategic reasons.[16]

Publications[]

  • Pierucci, Frédéric; Aron, Matthieu (2019). The American Trap. London: Hodder & Stoughton. ISBN 9781529326864.

References[]

  1. ^ "Corruption : un Français arrêté aux USA". Le Figaro.fr. 2013-04-16. Retrieved 2020-09-25..
  2. ^ Jump up to: a b Chloe Aeberhardt (2019-02-15). "Tombé pour Alstom, Frédéric Pierucci veut sauver l'industrie française". Le Monde.fr..
  3. ^ Benoît Collombat (2018). "Guerre économique: comment les Etats-Unis font la loi". franceculture.fr (in French). Retrieved 26 April 2020.
  4. ^ "Le cadre maudit d'Alstom". lejdd.fr. Retrieved 2020-09-25. l'ingénieur bardé de diplômes (Ensma, Insead et MBA de l'université de Columbia).
  5. ^ "Conférence : DSD reçoit Frédéric Pierucci [Le Piège Américain]". Dauphine Stratégie Défense (in French). Retrieved 2021-05-28.
  6. ^ "À lire : " Le piège américain " de F. Pierucci". Le Moci (in French). 2019-07-18. Retrieved 2021-05-28.
  7. ^ "Quand un cadre d'Alstom se retrouve en prison". Les Echos (in French). 2017-11-17. Retrieved 2021-05-28.
  8. ^ Alstom : la France vendue à la découpe ? Frédéric Pierucci [EN DIRECT], retrieved 2021-05-28
  9. ^ Jump up to: a b "L'éclairant calvaire de Frédéric Pierucci, lampiste et appât de l'affaire Alstom" (in French). 2019-01-16. Cite journal requires |journal= (help)
  10. ^ "Un ex-dirigeant d'Alstom dénonce le "racket" de la justice américaine". BFM BUSINESS (in French). Retrieved 2021-05-28.
  11. ^ "Frédéric Pierucci, "sacrifié par Alstom, aujourd'hui je ne veux plus me taire"". Le nouvel Economiste (in French). 2019-02-15. Retrieved 2021-05-28.
  12. ^ Jump up to: a b c Pierucci, Frédéric; Aron, Matthieu (2019). Le piège américain (in French). Paris: JC Lattès. p. 396. ISBN 978-2-7096-6407-3.
  13. ^ Jump up to: a b "" L'Otage " : France Inter adapte l'affaire Alstom en podcast". Le Monde.fr (in French). 2020-09-13. Retrieved 2021-05-28.
  14. ^ "How the American takeover of a French national champion became intertwined in a corruption investigation". The Economist. 2019-01-17. ISSN 0013-0613. Retrieved 2021-05-29.
  15. ^ Emilie Grangeray (2019-01-15). "L'ex-cadre qui relance l'affaire Alstom". Le Monde (in French). Retrieved 2020-09-30.
  16. ^ Sylvia, Zappi (2019-06-28). "A Belfort, le revenant Arnaud Montebourg dénonce la " blessure nationale " d'Alstom". Le Monde (in French). Retrieved 2020-09-30..
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