11/05/2012 14:47 EST | Updated 01/23/2014 18:58 EST

City says Laval mayor not stepping down

The City of Laval says reports that Mayor Gilles Vaillancourt is set to resign are false.

The head of the city's executive committee, Basile Angelopoulos, said he has not received any information concerning the mayor's possible resignation.

He said Vaillancourt is continuing to rest and to reflect while on medical leave.

Recently, the Laval mayor's home and bank accounts were raided by the province's anti-corruption squad.

Officers with the squad raided a branch of the Desjardins credit union in Laval and another financial institution on Oct. 24. They seized contents from about 10 safety-deposit boxes linked to Vaillancourt.

On Oct. 4, about 70 descended on city hall, Vaillancourt's house and the city's engineering and human resources departments' offices.

Vaillancourt has denied allegations of corruption since being accused of illegally financing the provincial Liberal Party in 2002.

PQ Leader Pauline Marois has since demanded Vaillancourt's resignation.