IMF chief Lagarde to stand negligence trial in France

Follow The Money

_87266351_3684267b-6dfa-4559-9ecb-496003662260

_87266349_2204ee3a-67b0-4980-a667-712500989d06

http://www.bbc.com/news/world-europe-35121022

IMF chief Christine Lagarde is to stand trial in France for alleged negligence over a €404m ($438m; £294m) payment to a businessman in 2008.

She was finance minister in President Nicolas Sarkozy’s government at the time of the compensation award to Bernard Tapie for the sale of a firm.

Mr Tapie supported Mr Sarkozy in the 2007 presidential election.

Ms Lagarde’s lawyer described the court’s decision as “incomprehensible”, and said the IMF boss would appeal.

In a statement she said she had “always acted in this affair in the interest of the state and in respect of the law”, according to AP.

Mr Tapie was once a majority shareholder in sports goods company Adidas but sold it in 1993 in order to become a cabinet minister in Francois Mitterrand’s Socialist government.

He sued the Credit Lyonnais bank over its handling of the sale, alleging that the partly state-owned bank…

View original post 301 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s