Belgian authorities have seized €65.2 million in connection with a French investigation into suspected aggravated tax fraud and money laundering involving consulting firm McKinsey, according to French and Belgian prosecutors.
The amount seized corresponds to approximately 96% of the tax loss estimated by French prosecutors, making the measure a significant development in an investigation that has been underway for more than four years.
McKinsey denies any wrongdoing and says it is cooperating with the French authorities. The investigation remains preliminary, and no final determination of wrongdoing has been made.
Investigation Dates Back to 2022
France’s National Financial Prosecutor’s Office, known as the Parquet National Financier (PNF), opened the investigation in March 2022.
The investigation followed a French Senate inquiry examining the growing role and influence of private consulting firms in public policy.
As part of the investigation, McKinsey offices were searched in May 2022. Witnesses and suspects were subsequently questioned during 2025 and 2026.
French prosecutors also sought assistance from the Brussels Prosecutor’s Office, bringing Belgian authorities into the investigation.
Belgian Authorities Seize €65.2 Million
The latest development is the seizure by Belgian authorities of €65.2 million.
According to French prosecutors, the amount represents approximately 96% of the estimated tax loss connected with the case.
A seizure of assets during an investigation is a precautionary measure and should not be interpreted as a final finding of tax fraud or other wrongdoing.
The preliminary investigation remains ongoing.
McKinsey Denies Wrongdoing
McKinsey has rejected allegations of wrongdoing and confirmed that it is cooperating with the French authorities.
The firm said it remains committed to complying with its tax obligations in France and in every country in which it operates.
McKinsey also said it remains focused on serving its clients in France.
Why the Case Matters
The €65.2 million seizure represents a significant escalation in a long-running investigation involving one of the world’s largest consulting firms.
The case is also notable for its cross-border dimension, with French prosecutors relying on cooperation from Belgian authorities to secure assets connected with the investigation.
For multinational businesses and tax professionals, the development illustrates how tax investigations can increasingly involve coordinated enforcement measures across jurisdictions, particularly where authorities are investigating suspected tax fraud and related financial offences.
At the same time, the distinction between an investigation and a finding of wrongdoing remains important. The proceedings are still at a preliminary stage, and McKinsey continues to deny the allegations.
What Happens Next?
French prosecutors have confirmed that the preliminary investigation is continuing.
Further investigative steps could follow before authorities decide whether the evidence supports formal prosecution or other proceedings.
Until that process is completed, the €65.2 million seizure should be viewed as an enforcement measure taken in connection with the investigation rather than a determination that McKinsey committed the alleged offences.
FAQ
Why did Belgian authorities seize €65.2 million?
The seizure was carried out at the request of French authorities in connection with an investigation into suspected aggravated tax fraud and money laundering involving McKinsey.
Why are Belgian authorities involved in a French investigation?
France’s National Financial Prosecutor’s Office sought assistance from the Brussels Prosecutor’s Office. The case therefore involves cross-border cooperation between French and Belgian authorities.
What does the €65.2 million represent?
According to French prosecutors, the amount seized corresponds to approximately 96% of the tax loss they estimate in connection with the investigation.
When did the investigation begin?
The French National Financial Prosecutor’s Office opened the investigation in March 2022, following a French Senate inquiry into the role of private consulting firms in public policy.
Has McKinsey been found guilty of tax fraud?
No. The investigation remains preliminary, and there has been no final determination of wrongdoing. McKinsey denies wrongdoing and says it is cooperating with the authorities.
What happens to the investigation now?
French and Belgian prosecutors have said that the preliminary investigation continues. Further investigative or legal steps will depend on the findings of the authorities.