France’s ex-president Nicolas Sarkozy has dismissed accusations the Libyan dictator Muammar Gaddafi funded his 2007 election campaign as a web of lies that were making his life a “living hell” and had cost him reelection in 2012.

The former leader of the centre-Right Republicans said there was “no physical evidence to prove the claims" that he had received £42 million in illegal funding from the Libyan regime. He was charged on Wednesday after two days of questioning in police custody.

He defended his innocence in a statement to investigating magistrates, a copy of which Le Figaro published in its entirety.

"I stand accused without any tangible evidence through comments made by Mr Gaddafi, his son, his nephew, his cousin, his spokesman, his former prime minister," said Mr Sarkozy.

"I've been living the hell of this slander since March 11, 2011," when the allegations first emerged, said the ex-president, who was due to be interviewed live on a prime time news programme on Thursday evening.