The court found guilty the head of the IMF in the case of negligence – RBC

IMF chief Christine Lagarde on arrival at the court in Paris

Photo by: Francois Mori/AP

a Court convicted the head of the IMF Christine Lagarde. The case stems from a decision it took in 2007, as Finance Minister of France

a French court has convicted the head of the International monetary Fund (IMF) Christine Lagarde in the case of a payment of €404 million in compensation to businessman Bernard Tapie in 2008, reports Reuters. The sentence was handed down for actions Lagarde, which she made as French Finance Minister.

Despite the decision of the judges not to pass judgment Lagarde, she should be in court order to make payments. Reuters did not specify the amount of payments.

Security Lagarde said that she will appeal the verdict.The head of the IMF denies all the charges.

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the IMF Official Jerry rice said that in the near future, the organization’s Executive Board will gather to discuss Lagarde issued a sentence.

Businessman and politician Bernard TAPI has been one of the major shareholders Adidas. In 1993, he sold his share of the Bank Credit Lyonnais over 2 billion francs. Later, however, the financial institution resold the stake for double the price. After that, Tapie accused Credit Lyonnais of fraud and demanded compensation.

In 2007 on the initiative Lagarde established a Commission of arbitrators, in order to solve this issue. The Commission has ruled on the payment Tapie €404 million from the state Treasury.

in the Summer of 2013, the consortium under control of Credit Lyonnais, created for the transaction, filed a complaint against the arbitration decision. The court ordered the businessman to pay back €404 million.

Lagarde became involved in this case after she intervened in the process and appointed a Commission. Judicial investigation against Lagarde was appointed in 2011. The head of the IMF from the very beginning denied the charges and called them to the machinations of political opponents.