Alexandre Rodriguez, the former chairman of French luxury yacht builder Rodriguez Group, was released from a French prison on July 29 on a €1.5m bail, according to reports in the French press.

Rodriguez had been held by French authorities since June 9 on suspicion of money laundering and associating with criminals. His arrest, which took place aboard a yacht, was part of an operation targeting organised crime in Marseilles.

Rodriguez resigned from his position as chairman of the Rodriguez Group on June 15.

A total of 15 people were arrested as part of the investigation.

The Rodriguez Group builds custom yachts up to 50m (165ft) under the Mangusta brand. Its headquarters are in Cannes.
SuperYachtWorld, 4 August 2010