The Family, star incubator of French Tech, is torn apart in a legal battle

But who is it? Moffed on TikTok, trending on Twitter, long-winded on YouTube—former tech guru Osama Ammar, 36, is a must-see on social media these days. Whether it’s showing off his golden life in Dubai or his mansion in Normandy, chatting about bitcoin or polyamory, the former director of incubator The Family likes to tell his story through videos. It is hard to imagine, seeing him so happy, that the Franco-Lebanese businessman is being sued by his former partners, who suspect that he embezzled 4.5 million euros.

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“Following the filing of a complaint by my clients in March 2022, it was confirmed to me that an investigation was underway in the smart crime squad.specifies The Family’s attorney, Ivan Terel of the firm GKA & Associates. We also filed a complaint with a civil action in January 2023, again for acts of breach of trust, forgery and use of falsehood. » “I don’t think he’s a thief, neither good nor good, defends the person concerned in a podcast broadcast on February 3, 2023. Every time I juggle money, it’s called entrepreneurial creativity. »

It looks like a fight of partners like so many others but, here it is, it touches a symbol of the triumphant French technique and the “teacher” adored by a generation of start-ups. Created in 2013, The Family has become one of the main incubators of innovative French companies (120 start-ups in portfolio), with among its foals PayFit (payroll management), Doctrine (legal information) or Algolia (software). When, in July 2015, Emmanuel Macron, then Minister of the Economy, received his British counterpart, George Osborne, he took him under the modern glass ceiling of The Family, in the Parisian district of the Marais.

Successful beginnings

From now on, the “family” is torn apart, in general shame. Investments in the family galaxy approached The world he demanded that his name not appear. It must be said that the ongoing legal wrangling highlights the mediocre laundry of the “home nation”. We discovered a magma of holding companies registered in Estonia or Luxembourg, which transfer hundreds of thousands of euros to the Cayman Islands like others buy a lottery ticket.

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The main embezzlements that Osama Ammar is suspected of are related to the capital raised to invest in Airbnb or SpaceX, not really tricolor unicorns. The revenge of the “brick and mortar”? The missing millions would eventually be used to build the businessman’s famous mansion in Normandy…

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