INTERNATIONAL: IMF chief found guilty of criminal charges over massive government payout

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INTERNATIONAL: IMF chief found guilty of criminal charges over massive government payout

lagarde-imf-courtINDEPENDENT (UK) – International Monetary Fund chief Christine Lagarde has been convicted over her role in a controversial €400m (£355m) payment to a businessman.

French judges found Ms Lagarde guilty of negligence for failing to challenge the state arbitration payout to the friend of former French President Nicolas Sarkozy.

The 60-year-old, following a week-long trial in Paris, was not given any sentence and will not be punished.

The Court of Justice of the Republic, a special tribunal for ministers, could have given her up to one-year in prison and a €13,000 fine.

The ruling however risks triggering a new leadership crisis at the IMF after Ms Lagarde’s predecessor Dominique Strauss Khan resigned in 2011 over a sex assault scandal.

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