SFAM-Indexia trial: prison sentence and maximum fine for ex-CEO Sadri Fegaier

In 2018 Sadri Fegaier was the “youngest billionaire in France” according to the ranking of the greatest fortunes by Challenges magazine. On December 17, 2025, the Paris judicial court sentenced him to the maximum penalty provided for “deceptive commercial practices”: two years in prison (including 16 months) and a fine of 300,000 euros. The committal warrant, although required, was not recognized as necessary by the court. Sadri Fegaier must also, in accordance with the requisitions, compensate the victims and reimburse the public treasury. The court declared the seizure of the three properties of the former CEO in Ratières, Peyrins and Clérieux.

Six of the companies in the immense millefeuille that he managed (Indexia Group, Hubside, SFK Group) were found guilty of “deceptive commercial practices”, and he of having set up a system of abusive deductions on a large scale. SFK Group, SFAM and Foriou are fined 1.5 million euros each, Hubside is fined 500,000 euros, Cyrana and Serena are fined 150,000 euros each.

A system of deception

Customers, after taking out an insurance contract by purchasing a device, were charged amounts that were too high and/or too frequent compared to what they had signed. It then took one, two, three steps to cancel or obtain a refund. If two thousand people went as far as the criminal trial, the DGCCRF investigation which covers the period 2014-2020 reveals the extent of the fraud. More than a million requests for reimbursement or termination have been made but not taken into account with the group's companies in six years, for 29 million euros in damage.

During the trial, which took place between the end of September and the beginning of October, Sadri Fegaier denied knowing of the existence of a fraudulent system, nor taking responsibility for these undue deductions. His lawyers thus pleaded for acquittal. All their arguments to this effect were rejected by the Paris court. Customers who have become civil parties, 2,575 in total, will be compensated or not at a new hearing in April 2025.