The Elf scandal came to light in 1994 in France. According to "The Guardian", it was 'the biggest fraud inquiry in Europe since the Second World War... Elf became a private bank for executives who spent £200 million on political favors, mistresses, jewellery, fine art, villas and apartments'. Iraqi-born Nadhmi Auchi, received a 15-month suspended sentence and a £1.5m fine for his involvement taking illegal commissions.