IMF Head Christine Lagarde Convicted in French Negligence Trial
- Ruling casts a shadow on former French minister’s role at IMF
- Largarde faced negligence charge for arbitration payout
IMF's Lagarde Found Guilty in French Negligence Trial
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Christine Lagarde was convicted of negligence by a Paris court over her handling of a multimillion-euro dispute during her time as France’s finance minister nearly a decade ago, raising questions about her role as head of the International Monetary Fund.
The 60-year-old managing director of the IMF won’t face a fine or prison term, Judge Martine Ract-Madoux said Monday. The judges on the Cour de Justice de la Republique, which specializes in ministerial misconduct, said that Lagarde should have done more to overturn a 285 million-euro ($300 million) payout to a businessman in an arbitration case.