Former French president, Nicolas Sarkozy, has been sentenced to five years in prison after he was found guilty of criminal conspiracy relating to an illegal funding scheme from late Libyan Head of State, Muammar Gaddafi, to aid his political campaign in 2007.

Mr Sarkozy was on Thursday declared guilty by a Paris court and sentenced to five years in prison for attempting to seek funding from the Libyan government, almost two decades ago, for his political campaign, in a scheme to favour his political ambition in exchange for diplomatic favours for the North African leader.

Although the court could not determine whether any money from the Libyan government was eventually used for Mr Sarkozy’s campaign, it said there was not enough evidence to prove its suspicion.

It, however, explained that under French law, an attempted corrupt scheme alone could still constitute a crime even if money was not paid or could not be proven.

The court determined that such an act of conspiracy was exceptionally serious and that Mr Sarkozy’s involvement in efforts to raise campaign funds from Libya was “capable of undermining the citizen’s trust in public institutions.”

Mr Sarkozy, however, described his conspiracy crime as just an idea, downplaying it as merely an attempt and not something that was executed.

“I am being convicted for supposedly allowing two of my staff members to go ahead with the idea, the idea of illegal financing for my campaign,” he said.

The historic ruling makes the 70-year-old politician the first former president in modern French history to be sentenced to actual time behind bars, despite his intention to appeal the verdict.

According to the court, the former French leader would still serve his jail term even if he seeks an appeal.

Mr Sarkozy, after the ruling, said, “If they absolutely want me to sleep in prison, I will sleep in prison. But with my head held high. I am innocent. This injustice is a scandal,” with his wife, singer and model Carla Bruni-Sarkozy, at his side.

“I ask the French people, whether they voted for me or not, whether they support me or not, to grasp what has just happened. Hatred truly knows no bounds,” he added.

The convicted former president first became the subject of controversy in this case of criminal conspiracy in 2011 when late Mr Gaddafi of Libya claimed that he had secretly funnelled millions of euros into Mr Sarkozy’s 2007 campaign. This was followed by a 2012 publication by French investigative outlet Mediapart, which reported a €50 million funding agreement between Mr Sarkozy and the Libyan government.

Mr Sarkozy, however, denied both claims and sued the outlet for defamation.