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French court finds IMF chief Lagarde guilty of negligence over massive payout to tycoon

December 19, 2016 By Michel Deléan

Following a week-long trial, International Monetary Fund (IMF) chief Christine Lagarde has been found guilty of negligence when French economy and finance minister for allowing an award of more than 400 million euros from public funds to controversial tycoon Bernard Tapie. But the Court of Justice of the Republic, a special French court dedicated to judging the misdeeds of ministers, decided to exempt her from any sentence. The IMF announced late Monday that it had "full confidence" in Lagarde. Michel Deléan reports.

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France’s Court of Justice of the Republic (CJR) on Monday found International Monetary Fund (IMF) chief Christine Lagarde guilty of negligence when she was the country’s economy and finance minister for not challenging a special private arbitration award in 2008 of 403 million euros paid out of public funds to controversial French tycoon Bernard Tapie.

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