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IMF chief Christine Lagarde (R) and her lawyer Patrick Maisonneuve (Rear L) look on in a courtroom of the Paris courthouse on December 12, 2016 prior to the start of Lagarde's trial before the Court of Justice of the Republic, a special tribunal used to try ministers.


IMF chief Christine Lagarde found guilty of negligence in payout case

December 19, 2016

A French court found International Monetary Fund managing director Christine Lagarde guilty on Monday for her part in a controversial arbitration payout to a wealthy businessman. Lagarde, who took over for former IMF chief Dominique Strauss-Kahn after he resigned amid sexual assault allegations in 2011, began her second five-year term earlier this year. Lagarde had been accused for her role in a massive arbitration case while she was France’s finance minister. The prosecutor, who admitted the case against Lagarde was ‘weak,’ alleged that a decision to allow a $420 million payout to a business tycoon awarded by an arbitration panel go uncontested was a misuse of public funds and politically motivated. She faced up to a year in prison and a fine, but a judge on Monday said Lagarde would not be punished after her conviction.

Earlier this year, Lagarde, the first woman ever elected to lead the IMF, appeared onstage at the Women in the World New York Summit and talked about often being the only woman in the room in the male-dominated finance world. Watch her complete panel in the video below.

Read the full story at The New York Times.


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