International Monetary Fund Managing Director Christine Lagarde was found guilty of one count of negligence by a French court today, according to Bloomberg News. She was accused of failing to prevent a massive government payout to businessman Bernard Tapie eight years ago, while serving as France’s finance minister, but most surprising, she will face no fine or jail sentence.
International Monetary Fund chief Christine Lagarde convicted of one count of negligence by Paris court over her handling of a multi-million dispute when she was France’s finance minister.
- 60-year-old IMF managing director convicted at the Cour de Justice de la Republique, over events that occurred nearly a decade ago
- Lagarde won’t face fine or jail sentence, judge says
- Lagarde was negligent in 2008 decision not to appeal arbitration, judge says
- Lagarde decided in mid-2008 not to appeal a 285 million-euro ($303-million) arbitration award for businessman Bernard Tapie that led to a massive government payout
- Lagarde was cleared of second count related to her 2007 decision to take Tapie dispute to arbitration Story Link: Lagarde Faces Setback as Critic Says Payout Was Scandalous (1)
- Case stems from former state-owned bank Credit Lyonnais’s disagreement with Tapie over the 1993 sale of Adidas AG, which he owned
via http://ift.tt/2hMapAv Tyler Durden