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IMF Chief Christine Lagarde’s Home Searched by French Police #Bloomberg #lagarde

Christine Lagarde, Managing Director, Internat...

Christine Lagarde, Managing Director, International Monetary Fund (Photo credit: Wikipedia)


IMF Chief Christine Lagarde’s Home Searched by French Police
2013-03-20 14:36:23.313 GMT

By Mark Deen and Sandrine Rastello
March 20 (Bloomberg) — French police today searched the
home of Christine Lagarde, the managing director of the
International Monetary Fund, the Paris prosecutor’s office said.
The Cour de Justice de la Republique, which
investigates ministers’ actions in office, is looking into
whether former French finance minister Lagarde erred in agreeing
to an arbitration to end a dispute with businessman Bernard
Tapie, a supporter of Former President Nicolas Sarkozy.
Tapie won a 385 million-euro arbitration award in damages
to settle his dispute over his company’s sale of German
sportswear brand Adidas AG. Tapie claimed Credit Lyonnais
mishandled the 1993 sale and pursued a claim against the
formerly state-owned bank’s liquidator.
The court opened its investigation into whether there was
“complicity in forgery” or “complicity in misuse of public
funds” in the case in 2011, soon after Lagarde became head of
the IMF.
“It would not be appropriate to comment on a case that
has been and is currently before the French judiciary,” said
Gerry Rice, the Director of the External Dept of the IMF.
“Prior to its selection of the Managing Director, however, the
IMF’s Executive Board discussed this issue and expressed its
confidence that Madame Lagarde would be able to effectively
carry out her duties.”



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