Telegram CEO charged with allowing criminal activity by French prosecutors

French prosecutors on Wednesday charged Telegram CEO Pavel Durov with enabling criminal activity on the messaging platform and placed him under formal investigation following his arrest Saturday.

In a statement, the Paris Prosecutors' Office said that Durov was indicted of all charges unveiled earlier this week in a statement from prosecutors. They included complicity in the administration of an online platform to enable an illicit transaction, in an organized gang — a charge which, on its own, carries a maximum penalty of 10 years' imprisonment and a 500,000 euro ($555,830) fine if someone is found guilty after trial.

Other charges included refusal to communicate, upon request from the authorized authorities, the information or documents necessary for the performance and exploitation of interceptions authorized by law, enabling the dissemination of child pornography, drug trafficking, and fraud.

Since Saturday, Durov has been in French custody and faced question from legal authorities over an investigation into organized crime, drug trafficking, fraud, and the distribution of pornographic images of minors on the platform.

Durov has posted 5 million euros for bail, is under judicial supervision, cannot leave French territory, and has to report twice weekly to a police station, prosecutors said Tuesday.

The 39-year-old Russian-born billionaire has been accused of failing to mitigate the misuse of his social media and messaging platform for criminal activities.

Telegram was not immediately available for comment when contacted by CNBC about the formal charges.

Telegram said in a previous statement posted on the X social media platform earlier this week that it abides by EU laws, and that CEO Durov has "nothing to hide," adding