“We are all victims and we must unite our efforts,” assures Cédric Bistué, former president of ASBH

L’ancien président de l’ASBH dit avoir été trompé. Midi Libre – PIERRE SALIBA

Cédric Bistué, former president of ASBH, claims to have been cleared of the “fraud and criminal association” case of which he was accused with Arnaud Dubois, chairman of the board of Biarritz Olympique and former administrative and financial director of ASBH. The Biterrois who lives in Martinique explains.

What state of mind are you in today ?

This episode has left a deep mark on me, my name, as well as that of Arnaud Dubois, was given as fodder with strong and disproportionate words through a defamation procedure aimed at discrediting us. Today, Red Fort Capital will withdraw its summons proceedings against us, which puts an end to this case in which we are also victims.

What does Red Fort Capital do ?

The Red Fort Capital company is an investment fund. That's what I understand today. I don't know much more than that about its activity. I have never contacted Red Fort Capital to have a business relationship with its directors.

Why was your company Opérateur Partenaire Social involved in this affair ?

My company, the Social Partner Operator, wondered about the opportunity to participate in the project for the city of cinema and video games, a theme park then in the pipeline in Béziers (from 2019 to 2023, Editor's note). Surya Ionaco from the film production company Guardhouse was introduced to me. She was very well-informed in this environment, and found it opportune to create film studios on the site dedicated to this project. She had also travelled from the United States to visit the site. She estimated the transaction at around 2 million euros, distributed through what I thought was a quote or a proforma invoice. She then introduced me to Red Fort Capital as one of her partners, capable of helping us get the project off the ground. Partners, factoring or loan… I did not know the contractual link between Red Fort Capital and Guardhouse at that time. Faced with the service proposal from Guardhouse, the Social Partner Operator was asked to validate its ability to pay, to honor the amount of the service, and to present guarantees of banking reliability in the event of the project coming to fruition, which my company did. All this was done in English with a formalism specific to American commercial laws. In reality, Guardhouse had taken out a loan from Red Fort Capital, securing it with what I thought was the proforma invoice or estimate, which turned out to be, in fact, a final invoice. Once the loan was obtained, Guardhouse did not provide any services and Surya Ionaco disappeared from circulation. The Social Partner Operator found itself without services and Red Fort Capital, for its part, with a claim against it. This is how the dispute arose.

What did Arnaud Dubois do in this case ?

Arnaud Dubois acted as a lawyer, mainly to certify my signature on documents from the Social Partner Operator or the bank. For Americans, certification by a lawyer is a step in the “Due diligence” compliance procedure, as they say. We had names of serious law firms in front of us. I think they were deceived like us.

Why did Red Fort Capital agree to withdraw ?

Following discussions with Red Fort Capital Inc, we identified documents that, in our view, allow us to consider that neither the Social Partner Operator, nor I in my capacity as manager, nor Arnaud Dubois, in his capacity as advisor, committed any acts likely to constitute an offence, which also had the effect of putting an end to this procedure. Our commitments and collaborations for the future belong to us and must remain confidential. We are all victims and we must join forces, confidentiality is imperative if we want to be effective while awaiting the outcome of the ongoing international proceedings.

Will you still have to be heard in court ?

One day as a victim, civil party, I hope.