The Elf scandal which came to light in 1994 in France was according to `` The Guardian '' , ` the biggest fraud inquiry in Europe since the Second World War ... Elf became a private bank for executives who spent # 200 million on political favours , mistresses , jewellery , fine art , villas and apartments ' .
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 ' .