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    The seal of the International Monetary Fund is seen at the headquarters building in Washington, DC on July 5, 2015

    IMF Board to Meet Following Director Lagarde’s Negligence Conviction

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    IMF spokesman Gerry Rice said that International Monetary Fund Executive Board will meet shortly after the conviction of Director Christine Lagarde in a negligence trial in France.

    WASHINGTON (Sputnik) The International Monetary Fund (IMF) Executive Board will meet shortly after the conviction of Director Christine Lagarde in a negligence trial in France, IMF spokesman Gerry Rice said in a statement on Monday.

    "The Executive Board has met on previous occasions to consider developments related to the legal proceedings in France," Rice stated. "It is expected that the Board will meet again shortly to consider the most recent developments."

    Lagarde has been accused of influencing the outcome of a 2008 court process instigated by French entrepreneur Bernard Tapie against Credit Lyonnais bank.

    Lagarde, who served as the French finance minister at the time, referred the case to private arbitration, which resulted in a 400 million euro ($450 million) payment to Tapie. The decision is alleged to have been aligned with the French government agenda.

    According to Le Parisien newspaper, the judges ruled that Lagarde was guilty, but did not hand down any sentence.

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