IMF Chief Christine Lagarde Faces Negligence Trial In France

IMF Chief Christine Lagarde Faces Negligence Trial In France
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IMF Chief Christine Lagarde stands trial in France for negligence over a compensation payment made by a state-owned bank to a businessman in 2008.

Lagarde is accused of negligence leading to misuse of public funds by improperly approving a decision to allow an out-of-court arbitration in the dispute with Sarkozy supporter Tapie. As the Finance Minister of then-President Nicolas Sarkozy, she approved an award of €404m ($429m; £340m) to Bernard Tapie for the disputed sale of a firm.

Mr. Tapie had supported Mr Sarkozy in the 2007 presidential election.

Lagarde said she was confident and determined, and denied that she had favoured Tapie or acted on Sarkozy’s orders.

 

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