French prosecutors accuse Telegram CEO of enabling criminal activity.

• Pavel Durov, CEO of Telegram, was charged by French prosecutors with facilitating criminal activity on the messaging platform.
• Since Saturday, Durov has been held in French custody and questioned by legal authorities regarding an investigation into organized crime, drug trafficking, fraud, and the distribution of pornographic images of minors on the platform.
• The billionaire, who is 39 years old and Russian-born, has been accused of not doing enough to prevent criminal activities on his social media and messaging platform.

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

The Paris Prosecutors' Office announced that Durov was indicted on all charges revealed earlier this week in a statement from prosecutors. These charges include complicity in the operation of an online platform to facilitate an illegal transaction as part of an organized gang, which carries a maximum penalty of 10 years' imprisonment and a 500,000 euro ($555,830) fine if found guilty after trial.

The individual was charged with refusing to provide the necessary information or documents for the legal interception and dissemination of child pornography, drug trafficking, and fraud.

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

On Tuesday, prosecutors stated that Durov has been placed under judicial supervision, posted 5 million euros for bail, is prohibited from leaving French territory, and must report to a police station twice weekly.

The billionaire, who is 39 years old and Russian-born, has been accused of not doing enough to prevent criminal activities on his social media and messaging platform.

CNBC was unable to obtain a comment from Telegram regarding the formal charges.

Earlier this week, Telegram stated on X social media platform that it follows EU laws and CEO Durov has "nothing to hide." The company also emphasized that it is not responsible for abuse of its platform.