Heirs to Retail Empire Cleared in Decade Long French Tax Probe

French investigators have dropped a decade long probe into allegations of corporate wrongdoing by members of the billionaire Mulliez dynasty and the vast network of companies that make up the family’s global retail empire.

The investigation related to the billionaire clan’s closely held investment company, Association Familiale Mulliez, which has more than 800 shareholders who have family ties to 93-year-old patriarch Gerard Mulliez. An AFM representative confirmed the dismissal of allegations against both managers and companies within the structure.

The probe failed to turn up evidence of alleged breach of trust and tax fraud, according to a person ...