Belgium seizes €65M in French McKinsey tax-fraud probe

Belgian authorities seized €65.2 million from McKinsey & Company in Brussels on August 19 as part of a French investigation into suspected aggravated tax fraud and money laundering, French and Belgian prosecutors announced on Friday.reuters+1

The amount, equivalent to roughly $76 million, corresponds to 96 percent of the total tax loss estimated by France's National Financial Prosecutor's Office, known as the PNF, according to a joint statement by the PNF and the Brussels King's Prosecutor. McKinsey did not immediately respond to a request for comment.amlintelligence+2

A Four-Year Investigation

The PNF opened the preliminary investigation in March 2022 following a French Senate inquiry into the growing influence of private consulting firms on public policy under President Emmanuel Macron's administration. The Senate report alleged that McKinsey's French branch had not paid corporate taxes in France for at least a decade, despite generating substantial revenue in the country, using transfer pricing arrangements with its American parent company.politico+3

McKinsey's offices in Paris were searched in May 2022, and witnesses and suspects were questioned in 2025 and 2026. The PNF subsequently sought assistance from the Brussels Prosecutor's Office under international mutual legal assistance treaties after tracking company assets across the border.amlintelligence+1

Broader Context

The investigation has been a recurring political headache during Macron's second term in office. The original Senate report found that the French government had roughly doubled its spending on external consultants, from €379 million in 2018 to €894 million in 2021, drawing public scrutiny to the role of firms like McKinsey in shaping government policy.fedortax+2

The preliminary investigation continues, prosecutors said, and McKinsey remains subject to additional legal scrutiny in France.amlintelligence+1