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IMF chief is back in court over 2007 payout to a French tycoon


France

IMF chief is back in court over 2007 payout to a French tycoon

IMF chief Christine Lagarde is back in court today facing more questions over her role in a controversial payout made to a French businessman.

If the judges feel she has a case to answer she will be placed under formal investigation and could lose her current job.

Although she’s not being accused of benefiting from the 400 million euro payout, she is being questioned over an alleged misuse of public funds.

Back in 1993 Bernard Tapie sold his stake in the sports company Adidas to Credit Lyonais which then sold it on at a vast profit. Tapie claimed he had been defrauded.

In 2007 Nicolas Sarkozy suggested the finance ministry, which was overseeing the dispute and was led by Lagarde should move the case to arbitration.
An agreement was reached over a payment to Tapie.

Our reporter Giovanni Magi in Paris said:
“One day before the Republic’s court of justice was not long enough for the judges to make up their minds. There are many questions to be answered and many things at stake for the IMF’s director Christine Lagarde.”

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