facebook
twitter
rss
account
search
search
 

IMF's Lagarde subject of investigation

Aug. 5, 2011 at 9:24 AM   |   Comments

| License Photo
PARIS, Aug. 5 (UPI) -- A French court ordered an investigation of charges that International Monetary Fund boss Christine Lagarde abused her authority as France's finance minister.

The Court of Justice of the Republic ordered the investigation Thursday into allegations that Lagarde abused her power in a 2007 dispute involving a multimillion-dollar payout to a French tycoon.

Legal experts told The New York Times the investigation likely wouldn't interfere with her management of the IMF.

"She should be able to continue her duties with no problem because the IMF was made aware of this potential investigation when she submitted her candidature and they voted for her nonetheless," said Christopher Mesnooh, a partner with Field Fisher Waterhouse in Paris.

The fund's board said in a statement it was confident Lagarde "will be able to effectively carry out her duties."

Lagarde was appointed IMF managing director in June, replacing Dominique Strauss-Kahn, who stepped after being charged with sexually abusing a hotel maid in New York.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Apple sells 10 million new iPhones during the first weekend Apple sells 10 million new iPhones during the first weekend
2
Gazprom: Hungary ready for South Stream Gazprom: Hungary ready for South Stream
3
Iraq relying on oil wealth from Basra Iraq relying on oil wealth from Basra
4
Starbucks testing a latte that tastes like beer Starbucks testing a latte that tastes like beer
5
Arctic oil bound for Europe, Gazprom Neft says Arctic oil bound for Europe, Gazprom Neft says
Trending News
Video
x
Feedback