Former Vivendi Universal Honcho Under Investigation

Jean-Marie Messier, former chief executive of Vivendi Universal, who was taken into French police custody last week, is now under formal investigation for alleged financial misappropriations, BBC News reported. Five people are being investigated by police for the charge, which occurred in late 2001 and early 2002 when the media company and owner of Vivendi Universal Games “ran up debts and losses to fuel acquisitions,” according to the news source. Messier may have bought back large quantities of company stock to help boost the company’s value in the post-Sept. 11, 2001 economic slump. Messier will have to post a $1.64 million bond.