IMF chief Lagarde under investigation in France

Tags: News
IMF chief Christine Lagarde today said she is under official investigation for negligence in a French corruption probe that dates back to her days as finance minister.

In a statement after a fourth round of questioning before magistrates, Lagarde said she was returning to her work in Washington later in the day and said the decision was "without basis."

She and her former chief of staff face questions about their role in a 400 million-euro ($531 million) payment to a businessman.

The payment was made to Bernard Tapie in a dispute with state-owned bank Credit Lyonnais over the botched sale of sportswear company Adidas.

Critics have said the deal was too generous, and was symptomatic of the cozy relationship between money and power in France.

EDITORIAL OF THE DAY

  • Banning commercial surrogacy will end exploitation of women

    Thousands of infertile couples around the globe come to India—the world’s biggest hub for commercial surrogacy along with Thailand—to rent wombs

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

Japan needs more women in high office

Japan does not rank high in international tables, when it ...

Jemima Raman

Things one learns on a potter's wheel

As things go, watching a shape emerge from a blob ...

Bubbles Sabharwal

Hold the world in the palm of your hand

There is absolute happiness and relative happiness. The poet John ...