Arab Today, arab today imf chief grilled in paris court over 2007 payout scandal
Last Updated : GMT 16:32:56
Arab Today, arab today
Arab Today, arab today

IMF chief grilled in Paris court over 2007 payout scandal

Arab Today, arab today

Arab Today, arab today IMF chief grilled in Paris court over 2007 payout scandal

Paris - AFP

IMF chief Christine Lagarde faces another day of questioning after being grilled for hours Thursday by French prosecutors who are deciding if she should be charged over a state payout to a disgraced tycoon during her time as finance minister. Lagarde has downplayed the investigation, but the stakes are high for both her and the International Monetary Fund, which has expressed confidence in Lagarde. \"The executive board has been briefed on that matter, including recently, and continues to express its confidence in the managing director\'s ability to effectively carry out her duties,\" IMF spokesman Gerry Rice said in Washington. Lagarde, 57, was seen leaving a Paris court late on Thursday after being quizzed by prosecutors for around 12 hours. \"See you tomorrow,\" she told reporters as she left the building. The Court of Justice of the Republic (CJR), which probes cases of ministerial misconduct, is seeking an explanation of her 2007 handling of a row that resulted in 400 million euros ($515 million) being paid to controversial business figure Bernard Tapie. Criminal charges against Lagarde, known for her intellectual prowess and elegance, would mark the second straight scandal for an IMF chief, after her predecessor Dominique Strauss-Kahn, also from France, resigned in disgrace in 2011 over an alleged assault on a New York hotel maid. Her court appearance came a day after Lagarde, the first woman to run an organisation considered the pillar of the international financial system, was named the world\'s seventh most powerful woman by Forbes magazine. Tapie, a former politician, went to prison for match-fixing during his time as president of French football club Olympique de Marseille. Prosecutors working for the CJR suspect he received favourable treatment in return for supporting Nicolas Sarkozy in the 2007 presidential election. They have suggested Lagarde -- who at the time was finance minister -- was partly responsible for \"numerous anomalies and irregularities\" which could lead to charges for complicity in fraud and misappropriation of public funds. The investigation centres on her 2007 move to ask a panel of judges to arbitrate in a dispute between Tapie and Credit Lyonnais, the collapsed, partly state-owned bank, over his 1993 sale of sports group Adidas. Tapie had accused Credit Lyonnais of defrauding him by consciously undervaluing Adidas at the time of the sale and argued that the state, as the former principal shareholder in the bank, should compensate him. His arguments were upheld by the arbitration panel but critics claimed the state should not have taken the risk of being forced to pay compensation to a convicted criminal who, as he was bankrupt at the time, would not have been able to pursue the case through the courts. The payment Tapie received enabled him to clear his huge debts and tax liabilities and, according to media reports, left him with 20 million to 40 million euros which he has used to relaunch his business career. Tapie, who recently purchased a newspaper group in the south of France, said he \"is not at all worried. \"When an arbitrage is conducted, it is done according to rules,\" he told Europe 1 radio. \"If there had been something questionable, it would have been known a long time ago.\" Lagarde has said the arbitration was necessary to put an end to a costly dispute, and has always denied having acted under orders from Sarkozy. Lagarde, who was France\'s first female finance minister from 2007 to 2011 after rising to the executive board of US legal giant Baker & McKenzie, would not automatically be forced to resign as IMF chief if she is charged. But such a ruling would certainly weaken her position and undermine her future ambitions on the world stage. French government spokeswoman Najat Vallaud-Belkacem told BFMTV that \"objectively speaking and knowing the IMF... I tend to think that if she is charged, they will without doubt ask her to quit her post\". French Finance Minister Pierre Moscovici told AFP that Lagarde \"retains the full confidence of French authorities and myself\".

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf chief grilled in paris court over 2007 payout scandal Arab Today, arab today imf chief grilled in paris court over 2007 payout scandal

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf chief grilled in paris court over 2007 payout scandal Arab Today, arab today imf chief grilled in paris court over 2007 payout scandal

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday