Stavisky, Serge-Alexandre

(1886-1934)

   businessman

   Of Ukrainian origin, Serge-Alexandre Stavisky, the financier who caused a scandal that resulted in a major upheaval in the French government, was born in Slobodka, Ukraine. He was the founder and director of the Crédit municipal de Bayonne (1931), through which he issued a large number of bonds that were based on false or stolen gems. The discovery of this financial fraud (late 1933) contributed to the discrediting of the regime as many government officials were more or less directly implicated in the scandal. Sought by the police, Stavisky, who used his charm to befriend many well-placed political and social figures, was found dead from a pistol shot in Chamonix. The extreme right-wing leagues accused the government of his death and, after the resignation of the cabinet (which was replaced by that of Edouard daladier), held demonstrations on February 6, 1934. The Stavisky affair, which resulted in many being swindled out of their savings, caused one of the major political crises of the decade.