With his project of "
La Jeune Rue
" in Paris, he had seduced the world of gastronomy and design, convinced bankers and investors: Cédric Naudon was sentenced Wednesday to four years in prison including three farms, in particular for fraud.
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An arrest warrant was issued against the defendant who was not present at the trial.
The Paris Criminal Court also condemned him to be prohibited from managing a company.
The president of the court listed the names of the companies for which he will have to pay damages.
The total amount is over 20 million euros.
The liability was estimated at 30 million euros.
A “
hub
” of gastronomy and design
The affair dates back to January 2014. Cédric Naudon, who then owned the fashionable restaurant “
Le Sergent Recruteur
”, promised to transform the rue du Vertbois district, in central Paris, into a “
hub
” for gastronomy and high place of design. He wanted to open around thirty stores. Alongside restaurants and art galleries, all food shops had to be represented. He promised food of exceptional quality, from the best French producers.
Cédric Naudon, who said he had made his fortune in the United States, managed to convince dozens of people to embark on the adventure, including seasoned investors.
But by the end of 2014, the project collapsed.
Only two restaurants have opened.
Employees (there were more than a hundred) complained that they had not been paid, as did suppliers.
During this time, Cédric Naudon lived in Place Vendôme and traveled in Maserati.
Cédric Naudon, 48, was tried for fraud, attempted fraud, bankruptcy, abuse of corporate assets, etc.
In March, the prosecution requested four years in prison against him.
"
We do not see many simple fraud facts which amount to so many millions of euros
", then declared the prosecutor.
Two million evaporated
"
About twenty companies have been liquidated, dozens of employees made redundant, suppliers have not been paid
", recalled the prosecutor.
On the contrary, "
almost two million euros have evaporated to finance the exorbitant lifestyle of Cédric Naudon
".
Cédric Naudon, who is now employed in a publishing house and would earn 2,000 euros per month, blamed his former employees including his ex-financial director, claiming "to
have abandoned the financial part
" to work with "
the creatives
" .
