IMF Managing Director, Christine Lagarde, in court in Paris
By LK Hewlett
PARIS, France (WINN) -- Managing director of the International Monetary Fund (IMF) Christine Lagarde was found guilty of negligence with public money in a French court on Monday in connection with an over €400 million arbitration payout to a businessman when she was France’s minister of finance.
The IMF chief went on trial last week before a special tribunal, maintaining that she acted in good faith and in the interest of the public.
Lagarde was not in court for the judgment.
She was facing a maximum fine of €15,000 or up to one year in prison; however, despite the conviction, 60-year-old Lagarde will not be sentenced to any jail time.
The court decided that she should not be punished and that the conviction would not constitute a criminal record.
The court’s judgments cannot be appealed.
According to the UK Telegraph newspaper, an IMF spokesman said that the body would meet soon to discuss the outcome.
Republished with permission of West Indies News Network