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Lagarde found guilty by court of negligence over a massive payout to a tycoon
17:08, 19 December 2016
Lagarde found guilty by court of negligence over a massive payout to a tycoon

The case is about embezzlement of 400 million euros

17:08, 19 December 2016

Reuters

The Court of France recognized the director of the International Monetary Fund Christine Lagarde guilty of "negligence in the performance of her duties", which led to the embezzlement. This was reported by the French newspapers, AFP in particular.

Director of the International Monetary Fund, Christine Lagarde, was found guilty of "negligence in the performance of her duties" when being the Minister of the Economy of France in 2008. Such a decision was announced today, on December 19, by the Court of the French Republic.

Lagarde in a Paris courtroom, December 12, 2016
AFP

"Lagarde was found to be at fault over her decision allowing a dispute over sale of the Adidas sports brand to Credit Lyonnais bank to be resolved by a private arbitration panel rather than through the courts, then failing to challenge the 404-million-euro ($422 million) award that followed." the publication said.


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