IMF chief Lagarde under investigation in France

Image

PARIS — IMF chief Christine Lagarde says she is under official investigation for negligence in a French corruption probe that dates back to her days as finance minister.

In a statement Wednesday after a fourth round of questioning before magistrates, Lagarde said she was returning to her work in Washington later in the day and said the decision was “without basis.”

She and her former chief of staff face questions about their role in a 400 million-euro ($531 million) payment to a businessman.

The payment was made to Bernard Tapie in a dispute with state-owned bank Credit Lyonnais over the botched sale of sportswear company Adidas. Critics have said the deal was too generous, and was symptomatic of the cozy relationship between money and power in France.

By Associated Press

Related Articles

Egypt welcomes Trump’s push to resolve Nile dam dispute with Ethiopia

Construction on the GERD began in 2011. Over the years, it has become a point of diplomatic tension, particularly between Ethiopia.

  • World

    16-07-2025

  • 07:01AM

U.S. Imposes 3.5% Tax on Foreign Remittances, Sparking Global Concern

Humanitarian groups like Oxfam warn that the tax could directly impact hundreds of thousands of vulnerable households.

  • World

    15-07-2025

  • 05:34PM