The head of the International Monetary Fund, Christine Lagarde has been found guilty in the handling of the long running fraud case by a French Court. She was charged for being negligent in the handling of the case though she won’t be asked to pay a fine, serve jail time or have criminal records.
Lagarde was accused of being biased and giving preferences to business man turned politician Bernard Tapie who was at that time the French economy minister, as he fought a legal case against the French government.
Tapie won his case and was awarded 293 Million Euros ($306 million), plus interest. Lagarde was accused of not challenging the award of the huge amount of taxpayers’ money. She is the third IMF managing director in a row to face legal proceedings
The Special Court was made up of members of the Parliament and Magistrates.
Source and Photo Credit: CNN, ArmstrongEconomics
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