Lagarde found guilty of negligence; verdict could push her out of IMF

Paris

CHRISTINE Lagarde, the managing director of the International Monetary Fund (IMF), was found guilty on Monday of criminal charges linked to the misuse of public funds during her time as France's finance minister, a verdict that could force her out of her post.

In their ruling, French judges did not see negligence in Ms Lagarde's decision to seek an out-of-court settlement with businessman Bernard Tapie, but they said her failure to contest the award to him of 400 million euros (S$605 million) was negligent, and led to a misuse of public funds.