Published On: Tue, Dec 20th, 2016

IMF chief found guilty in Paris trial

christine_lagarde5PARIS - 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.

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