Kiabi victim of large-scale fraud: 100 million euros embezzled

French ready-to-wear retailer Kiabi recently revealed that it had been the target of a large-scale financial fraud, orchestrated by a former company treasurer. The alleged amount of the embezzlement, estimated at 100 million euros, was reported by France Info and confirmed by a source close to the case to BFM Business.

Although Kiabi declined to confirm this precise figure, the brand immediately took steps to deal with this unprecedented situation. “We have immediately launched all the necessary steps, including legal action, to recover the misappropriated sums,” said the group in an official statement.
Actions underway and a clear vote of confidence

Kiabi affirms that it is working closely with the judicial and police authorities to shed light on this affair. “We have full confidence in the smooth running of the procedures underway,” said the company’s management, expressing optimism about the outcome of this delicate situation.

No impact on Kiabi’s financial strength

Despite the scale of the fraud, Kiabi wishes to reassure its partners and customers: “This incident in no way calls into question the financial solidity of our company and does not affect the achievement of our objectives for the year,” said management, stressing that the situation is fully under control and that the brand’s development prospects remain intact.

Kiabi’s ex-treasurer betrayed by her extravagance: a luxurious lifestyle revealed on social networks

Far from keeping a low profile, the former Kiabi employee has been posting on social networks, facilitating the work of the investigators. Her posts reveal that she has been spending time in Europe, notably in Mykonos, Greece, where she hosted a lavish party to launch her interior design practice. A few days later, she was spotted on the Amalfi coast in Italy, before landing in Corsica, where she arrived by private jet.

This display, which can be attributed to naiveté or a form of audacity, eventually led to her arrest. When the police searched her luggage, they discovered over 500,000 euros in jewelry and luxury items. Taken to Paris from police custody, the former treasurer was indicted by an examining magistrate for “organized fraud and money laundering”.

Investigators are convinced that she could not have orchestrated this scheme alone. As the head of the Office central de lutte contre la grande délinquance financière suggested in an interview with *Figaro Madame* on August 16, this case could involve a vast organization suspected of having laundered almost 100 million euros.