She was caught improperly funneling EU funds to her own party (members), which would give her party an unfair advantage in any current political race.
For example, you can be jailed before your trial ; you can have your driving license overturned if you kill someone ; and, it turns out, you can get banned from running into élections if you're found guilty of embezzlement.
Fortunately for her, the next elections are in 2 years ; I would not be surprised is she get an appeal, a reduced ineligibility sentence to allow her to run in the next legislative election. And she might be happy with that - two round presidential elections are hard for her party, and, more importantly : winning an election is a _terrible_ situation in France.