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4 parts The winding saga of the DGSE's secret stash, from two world wars to the courtroom
The DGSE's cursed treasure. © Stéphane Oiry

Deep Dive | France, Luxembourg, Portugal
The winding saga of the DGSE's secret stash, from two world wars to the courtroom

Set up in the wake of the two world wars with the aim of financing a French government in exile should the country suffer a collapse similar to that of 1940, the hidden fund of France's DGSE foreign intelligence service eventually became a curse. Intelligence Online lifts the veil on one of the French Republic's best-kept secrets.

4 partsThe winding saga of the DGSE's secret stash, from two world wars to the courtroom
The DGSE's cursed treasure. © Stéphane Oiry

The origins of the secret war chest of France's DGSE foreign intelligence

The DGSE's cursed treasure (1/4) - A fund set up in the wake of the two world wars, to finance a government in exile if France were again occupied, eventually became a curse. This first episode looks at the complex financial structures French foreign intelligence secretly set up to build the fund.

Part 1 The DGSE's cursed treasure (1/4).
LogoSubscribers only Agencies 05.01.2026
Part 1 The DGSE's cursed treasure (1/4).

Former French spy chief sets off on quest to save the DGSE war chest

The DGSE's cursed treasure (2/4) – A fund set up in the wake of the two world wars, to finance a government in exile if France were again occupied, eventually became a curse. This second episode recounts the never-before-told story of Alain Juillet's attempt to extract the intelligence service from the perilous situation it had got itself into.

Part 2 The DGSE's cursed treasure (2/4).
LogoSubscribers only Agencies 06.01.2026
Part 2 The DGSE's cursed treasure (2/4).

How the DGSE secret war chest nearly became a CIA-styled investment fund

The DGSE's cursed treasure (3/4) – A fund set up in the wake of the two world wars, to finance a government in exile if France were again occupied, eventually became a curse. This third episode looks back at how the service almost turned its war chest into an investment fund.

Part 3 The DGSE's cursed treasure (3/4).
LogoSubscribers only Agencies, Defence 07.01.2026
Part 3 The DGSE's cursed treasure (3/4).

DGSE pins hopes on upcoming court case to recover part of its war chest

The DGSE's cursed treasure (4/4) – A fund set up in the wake of the two world wars, to finance a government in exile if France were again occupied, eventually became a curse. In this episode we dig into the State's hopes of minimising its losses relating to its relationship with a Franco-Swiss businessman.

Part 4 The DGSE's cursed treasure (4/4).
LogoSubscribers only Agencies 08.01.2026
Part 4 The DGSE's cursed treasure (4/4).

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