Wednesday, March 20, 2013

French police raid Paris home of IMF chief Christine Lagarde...

French police on Wednesday raided the Paris home of IMF chief Christine Lagarde, AFP reported. The raid is linked to an investigation into a €285 million arbitration payment made to businessman Bernard Tapie.

French police on Wednesday carried out a raid on the Paris home of IMF chief Christine Lagarde in connection with a probe into her handling of a high-profile scandal when she was France's finance minister.

"Mrs Lagarde has nothing to hide," her lawyer Yves Repiquet told AFP, adding in a statement to Reuters: "These raids will serve to show the truth, and will help clear my client of any criminal liability."

The investigation concerns Lagarde's 2007 decision to order a panel of judges to arbitrate in a dispute between disgraced tycoon Bernard Tapie and the bank Credit Lyonnais, which led to Tapie being awarded €285 million.

Tapie is in infamous figure in French politics after being convicted and jailed in 1997 for football match-fixing. He also has a conviction for tax fraud.

 The IMF have refused to comment on the raid. Full story...

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