IMF chief Lagarde under formal investigation
International Monetary Fund chief Christine Lagarde has been placed under formal investigation for negligence relating to a long-running political fraud case, an unnamed source has told Reuters.
IMF chief 'under investigation' over negligence claims
International Monetary Fund chief Christine Lagarde has been placed under formal investigation for negligence relating to a long-running political fraud case, an unnamed source has told Reuters.
Lagarde will appeal the French magistrates' decision to place her under formal investigation, saying the allegation of negligence was unfounded, the source stated.
The inquiry into French businessman Bernard Tapie has embroiled several of former president Nicolas Sarkozy's cabinet members, including Lagarde, who was finance minister.
Tapie was awarded €403 million (£321 million) in a 2008 arbitration payment under Sarkozy's presidency to settle a dispute with the now-defunct state-owned bank Credit Lyonnais over a share sale in 1993.
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