14:44 GMT23 September 2020
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    International Monetary Fund (IMF) Managing Director Christine Lagarde was put under investigation for authorizing the payment of €403 million ($434 million at the current exchange rate) in an out-of-court settlement to businessman Bernard Tapie, according to French media.

    MOSCOW (Sputnik) — International Monetary Fund (IMF) Managing Director Christine Lagarde is due to stand trial over her alleged role in a corruption scheme when she was France’s finance minister, local media reported Thursday.

    Lagarde was put under investigation in August 2014 for authorizing the payment of €403 million ($434 million at the current exchange rate) in an out-of-court settlement to businessman Bernard Tapie, the French iTele television channel said.

    The compensation was awarded to the friend of former French President Nicolas Sarkozy to settle Tapie’s 2008 lawsuit against a state-owned bank.

    The businessman claimed the Credit Lyonnais bank defrauded him by intentionally undervaluing his company.


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