IMF chief Christine Lagarde faces surprise prosecution over her previous work as finance minister
Christine Lagarde. Frederic Legrand
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Now in charge of the International Monetary Fund, a former chair of Baker & McKenzie is facing a surprise prosecution over her role in a 2008 compensation award of more than 400 million euros to a French businessman.
Christine Lagarde, 59, was the finance minister for French president Nicolas Sarkozy at the time. She is charged with negligence by a person in a position of public authority. A written statement issued by her office says “Ms. Lagarde would like to reaffirm that she acted in the best interest of the French state and in full compliance with the law.”
The BBC News, the Guardian and Reuters have stories.
Lagarde remains at the helm of the IMF, whose board said in a written statement it is confident she can continue to fulfill her duties.
A Thursday decision by a French court that Lagarde should be prosecuted, contrary to the earlier recommendation of the country’s top prosecutor, is “incomprehensible,” her lawyer, Yves Repiquet, told Reuters. If convicted, Lagarde could be sentenced to a year in prison, the BBC reports. Lagarde will have five days to appeal the court’s decision once it is made public, according to the BBC.
Related coverage:
Sky News: “Bernard Tapie ‘Totally Ruined’ Over Court Ruling”
See also:
ABAJournal.com: “Christine Lagarde, IMF and ex-BigLaw chief, talks about women and leadership”
New York Times (reg. req.): “Her Partners Can Call Her Ms. Chairman; Baker & McKenzie Takes Small Step for a Law Firm, Giant Leap for Womankind”
