The trial is the latest in a string of legal troubles for the right-wing ex-leader, 70, who denies the charges.

Sarkozy, who was president from 2007 to 2012, has already been convicted in two separate cases and stripped of France’s highest honour.

Judge Nathalie Gavarino said Sarkozy,as a serving minister and party leader at the time, had “allowed his close collaborators and political supporters over whom he had authority and who acted in his name”, to approach the Libyan authorities “in order to obtain or attempt to obtain financial support”.

The court’s ruling however did not follow the conclusion of prosecutors that Sarkozy was the alleged beneficiary of the illegal campaign financing. He was acquitted on a separate charges of embezzlement of Libyan public funds, passive corruption and illegal financing of an electoral campaign.

Sentencing is due to be announced later in the hearing, with prosecutors requesting a seven-year prison term for Sarkozy.

He was present in court for the verdict, accompanied by his model and musician wife Carla Bruni-Sarkozy.

Two former close aides were also convicted. His former right-hand man Claude Gueant was found guilty of passive corruption and falsification while former minister Brice Hortefeux was found guilty of criminal conspiracy.

Eric Woerth, Sarkozy’s 2007 campaign treasurer, was acquitted.

In a dramatic coincidence, the judgement was issued by the Paris court two days after the death on Tuesday in Beirut of Franco-Lebanese businessman Ziad Takieddine, a key accuser of Sarkozy in the case.

Takieddine, 75, had claimed several times that he helped deliver up to five million euros ($6 million) in cash from Kadhafi to Sarkozy and the former president’s chief of staff in 2006 and 2007.