Europe, Billionaire | featured news

French ex-president Nicolas Sarkozy has been placed under formal investigation over claims his 2007 election campaign received illegal donations from France's richest woman. Mr Sarkozy is accused of accepting thousands of euros from L'Oreal heiress Liliane Bettencourt, now aged 90.

A court in Milan Friday convicted former Premier Silvio Berlusconi of tax fraud and sentenced the media mogul to four years in prison, his first prison sentence in years of criminal probes. The 76-year-old billionaire businessman -- who just two days ago said he would not run in Italy's spring election -- is expected to remain free until the appeals process is exhausted. In Italy, cases must pass two levels of appeal before verdicts are final.

Billionaire Sheldon Adelson said on Wednesday he plans to spend $35 billion on a mini-Las Vegas strip in Spain where he is courting the country's two top urban areas, Barcelona and Madrid, with plans for a casino complex.