IMF boss Lagarde dismisses €400m negligence charge as ‘incomprehensible’

IMF boss Christine Lagarde is gearing up to fight moves to put her on trial for negligence in a case dating back more than 20 years. Her legal team said the decision to prosecute her over a payment of €404million ($437 million) to French businessman Bernard Tapie, was incomprehensible. Yves Repiquet, Lagarde`s lawyer, said: “The prosecutor said there was no case against Lagarde but the judge has disregarded this. This decision was taken in disregard of the facts, of the documents of the trial record and of the recommendations of the prosecution authority.“

I sent her a text, she was really surprised and very disappointed.

Lawyer Yves Repiquet

The case dates back to the 1990s when Ms Lagarde was French finance minister and was central to agreeing compensation to Mr Tapie. He had sold his shares in Adidas to clear the way to launching a political career but claims his stock was wildly undervalued. Her case will be heard by magistrates at the Cour de Justice de la Republique, which judges ministers for crimes in office. However, it was unexpected as prosecutors had recommended the case be dropped in September. Last month, Mr Tapie lost a court claim for a further €1bn in compensation.

However, the executive board continues to express its confidence in the managing director’s ability to effectively carry out her duties.

IMF communications director Gerry Rice backs Ms Lagarde

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