Former French president Nicolas Sarkozy taken into custody, faces allegations he received illegal campaign financing from Gadhafi

Former French President Nicolas Sarkozy has been taken into custody by the police over allegations that he received suitcases containing millions of euros in illegal campaign financing from the government of then-Libyan leader Moammar Gadhafi, The Associated Press reports. Sarkozy has denied the allegations, which first arose in 2013 and were later fueled by French-Lebanese businessman Ziad Takieddine telling an investigative website that he was involved in the transportation of the cash.

Sarkozy served from 2007 to 2012 and initially extended a welcome to Gadhafi. Sarkozy was later involved in advancing NATO airstrikes on Gadhafi's troops; the Libyan leader was eventually captured and killed by rebels in 2011.

Overall, Sarkozy is accused of accepting some 50 million euros from Gadhafi's regime during his presidential campaign in 2006 and 2007. "Such a sum would be more than double the legal campaign funding limit at the time of 21 million euros," writes AP. "In addition, the alleged payments would violate French rules against foreign financing and declaring the source of campaign funds."

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Separately, Takieddine is accused of providing illegal campaign funds to conservative politician Edouard Balladur in 1995.