PARIS, Dec 6: A Franco-Lebanese businessman who has been charged with corruption in the “Karachi kickbacks” affair is also being investigated for suspected money laundering after being detained with 1.5 million euros in cash, it emerged on Thursday.

Judicial sources said Ziad Takieddine, who is embroiled in a string of illegal political financing scandals in France, had been caught with the money on a private flight out of Libya in March 2011, prior to the overthrow of Muammar Qadhafi.

The case has been put in the hands of examining magistrates Renaud Van Ruymbeke and Roger Le Loire, the judges who are in charge of the Karachi investigation.

That case centres on allegations that a 2002 bombing in Karachi was carried out by Pakistani agents in revenge for the non-payment of bribes promised in relation to a 1994 sale of a French submarine.

The bombing killed 14 people, including 11 French naval engineers.

It is alleged that some of the cash involved was channelled back to former prime minister Edouard Balladur’s campaign to be the French right’s candidate in the 1995 presidential election.

Takieddine faces the charge of acting as an intermediary.

The Karachi affair has also embroiled former president Nicolas Sarkozy, who was Mr Balladur’s campaign spokesman and budget minister at the time.—AFP