France and Belgium seize €65.2M from McKinsey in tax fraud investigation

Cross-border asset recovery

Belgian and French judicial authorities announced on Friday, 4 September 2026, that investigators had seized 65.2 million euros (approximately 75.5 million dollars) from the American management consulting firm McKinsey and Company. The asset seizure was executed on 19 August 2026 by the Brussels prosecutor's office through its International and European Affairs Directorate. According to a joint statement released by France's Parquet National Financier and the Brussels King's Prosecutor, the recovered sum represents 96% of the total tax loss estimated by French financial magistrates. The Parquet National Financier requested assistance from Belgian authorities under international mutual legal assistance treaties after tracking company assets across the border. The operation concluded a four-year cross-border financial investigation aimed at securing funds linked to suspected fiscal evasion in France.

Origins in the Senate inquiry

The French financial prosecutor's office opened the preliminary investigation in March 2022. The case developed following journalistic investigations and the findings of a French Senate commission of inquiry into the growing influence of private consulting firms on public policy. That parliamentary inquiry focused on the reliance of state ministries on outside consultants since Emmanuel Macron assumed the French presidency in 2017. The Parquet National Financier opened the probe under the legal classification of aggravated money laundering of tax fraud. Investigators sought to examine whether McKinsey and Company Inc. France had arranged corporate accounting structures to route profits out of France and minimize corporate tax liabilities over multiple years.

Raids and witness hearings

Two months after opening the preliminary inquiry, French investigators conducted coordinated search operations in May 2022 at McKinsey entities, including the firm's Parisian offices. The judicial police seized corporate documentation and records to establish the financial relationship between the French subsidiary and foreign affiliates. The investigation proceeded across 2025 and 2026 with formal hearings of multiple witnesses and suspects conducted by magistrates. Following the completion of these investigative hearings, the Parquet National Financier formally approached the Brussels prosecutor's office to execute the cross-border asset freeze. The prosecutors addressed the importance of transnational cooperation in their joint statement.

This investigation is also an opportunity to recall that in matters of seizure and confiscation of criminal assets, a global judicial strategy is required from the detection and freezing of assets.

Ongoing judicial scrutiny

The seizure of 65.2 million euros covers the vast majority of the estimated tax loss, but McKinsey remains subject to additional legal scrutiny in France. French authorities are also conducting a second judicial investigation into the ties between the consulting firm, political campaign activities, and public advisory contracts during Macron's presidency. The broader controversies regarding state contracts with private consulting firms have persisted throughout Macron's second five-year presidential term. French and Belgian prosecutors confirmed that preliminary proceedings remain active as judicial authorities review the evidence and the seized assets.