Accessibility links

Breaking News

IMF Chief Lagarde To Be Investigated For Abuse Of Office

IMF director Christine Lagarde
A French court has ordered a formal judicial investigation into the contested role of IMF chief Christine Lagarde in settling a financial dispute while she was France's finance minister.

The Court of Justice of the Republic, which investigates wrongdoing by members of the government, ordered a formal investigation into allegations Lagarde used her influence in the affair, in which arbitrators awarded a 285-million-euro ($407 million) payoff to a businessman suing the state.

Lagarde has denied any wrongdoing and there is no suggestion that she personally profited from the affair.

A lawyer for Lagarde said the opening of an investigation would be "in no way incompatible" with her functions at the IMF.

Lagarde replaced Dominique Strauss-Kahn as head of the International Monetary Fund in early July when the Frenchman resigned to fight charges of sexual assault in New York.

compiled from agency reports

See comments (5)

This forum has been closed.