IMF chief Christine Lagarde convicted in payout case

Email a Friend
Managing Director of the International Monetary Fund (IMF) Christine Lagarde is seen before the start of her trial about a state payout in 2008 to a French businessman, at the courts in Paris, France, December 12, 2016. REUTERS/Charles Platiau - RTX2UNK0

Managing Director of the International Monetary Fund Christine Lagarde is seen before the start of her trial about a state payout in 2008 to a French businessman, at a courts in Paris on Dec. 12. Photo by Charles Platiau/Reuters

The International Monetary Fund’s managing director, Christine Lagarde, was found guilty on Monday of misuse of public funds during her time as French finance minister, but she will not face any jail time.

According to the judges on the French court, Lagarde should have done more to overturn a $297 million payout to a businessman in an arbitration case in 2008, reported Bloomberg News.

But Lagarde will not face a prison sentence, the judge said. She was tried on charges of “negligence by a person in position of public authority.” She was found guilty of negligence, not corruption, which could have brought with it a prison term.

Lagarde has been head of the IMF since 2011. The board of the IMF will meet “shortly” to consider the developments, the BBC reported.

Her lawyers said she might appeal, citing the unusual ruling without a sentence.

The post IMF chief Christine Lagarde convicted in payout case appeared first on PBS NewsHour.