Wednesday, March 19, 2014

Christine Lagarde (IMF) Questioned in French Corruption Case

This story may or may not have signifigance. If Ms. Lagarde is forced to step down as head of the IMF, it will have signifigance. If she remains just a material witness, it probably won't have signifigance. Since it involves the head of the IMF, we will note the article here. Here are some quotes from the article.

"IMF chief Christine Lagarde was Wednesday questioned for the third time by French prosecutors in a high-profile corruption case that has become a thorn in the side of one of the world's most powerful women.

Lagarde faces questions over her handling of a 400 million euro ($557 million) state payout to disgraced French tycoon Bernard Tapie in 2008 when she was finance minister.

She will be questioned by prosecutors working for the Court of Justice of the Republic, a special court that probes cases of ministerial misconduct, amid suspicions that Tapie received favourable treatment in return for supporting ex-president Nicolas Sarkozy in the 2007 election."

"Prosecutors have suggested that Lagarde was partly responsible for "numerous anomalies and irregularities" that could lead to charges for complicity in fraud and misappropriation of public funds."

"Lagarde herself avoided being formally charged last year. If she had been charged, she would likely have had to quit as head of the International Monetary Fund.

Instead, she was placed under a special witness status that forces her to come back for questioning when asked by the court -- and leaves the door open for charges at a later date.

The IMF has always backed her in the case. Lagarde was again questioned at the end of January this year."

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