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Christine Lagarde convicted: IMF head found guilty of criminal charges over massive government payou


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https://www.independent.co.uk/news/world/europe/christine-lagarde-convicted-imf-head-found-guilty-of-negligence-in-fraud-trial-a7484586.html.......

News › World › Europe
Christine Lagarde convicted: IMF head found guilty of criminal charges over massive government payout
But former French finance minister, who faced potentially one year in jail, will not face any punishment

Peter Walker 
@petejohn_walker 
Monday 19 December 2016 15:15

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The Independent
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IMF chief Christine Lagarde protested her innocence through tears on Friday
IMF chief Christine Lagarde protested her innocence through tears on Friday ( Martin Bureau/AFP/Getty )
International Monetary Fund chief Christine Lagarde has been convicted over her role in a controversial €400m (£355m) payment to a businessman.

French judges found Ms Lagarde guilty of negligence for failing to challenge the state arbitration payout to the friend of former French President Nicolas Sarkozy.


The 60-year-old, following a week-long trial in Paris, was not given any sentence and will not be punished.

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Christine Lagarde in court over €400m payout to French tycoon
The Court of Justice of the Republic, a special tribunal for ministers, could have given Ms Lagarde up to one-year in prison and a €13,000 fine.

The ruling, however, risks triggering a new leadership crisis at the IMF after Ms Lagarde’s predecessor Dominique Strauss-Kahn resigned in 2011 over a sex assault scandal.

Ms Lagarde, who was French finance minister at the time of the payment in 2008, has denied the negligence charges.

 
 
 
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Her lawyer said immediately after the ruling that his team would look into appealing the decision.

On Friday she told the court: “These five days [of trial] put an end to a five-year ordeal for my partner, my sons, my brothers, who are here in this courtroom.

“In this case, like in all the other cases, I acted with trust and with a clear conscience with the only intention of defending the public interest.”

The case surrounded the decision to allow a dispute over Bernard Tapie’s sale of Adidas to Crédit Lyonnais bank to be resolved by a rarely-used private arbitration panel – instead of the courts.


IMF Chief Lagarde on Brexit
Investigators suspected the payment to 73-year-old Mr Tapie was the result of a behind closed doors agreement with then-President Mr Sarkozy in return for election support.

IMF managing director Ms Lagarde was suspected of rubber stamping a deal to effectively buy off the business magnate with taxpayers’ money.


Civil courts have since quashed the unusually generous award, declared the arbitration process and deal fraudulent, and ordered Mr Tapie to pay the money back.

Today’s result was unexpected.

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Even the trial’s chief prosecutor Jean-Claude Marin said the accusation was “very weak” and warned of confusion between “criminal negligence” and a “bad political decision”.

At the start of proceedings, the £355,000-a-year boss, of the global Washington-based institution, said: “I would like to show you that I am in no way guilty of negligence, but rather that I acted in good faith with only the public interest in mind.


“Was I negligent? No. And I will strive to convince you allegation by allegation.”

Her lawyer Patrick Maisonneuve said on Europe-1 radio that Ms Lagarde was just following instructions from her administration and did not have time to read all 15 years of legal files on the case.


IMF says refugees could boost German economy
Ms Lagarde was only the fifth to be held before the Cour de Justice de la République since its inception in 1993.

IMF spokesman Gerry Rice said after Monday’s verdict that its executive board would meet soon “to consider the most recent developments”.

Another former IMF head, Rodrigo Rato of Spain, is standing trial on charges of misusing funds when he was boss of the Spanish lender Bankia.

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Fake news..... Here's what she has been doing this week..

 

 

 

The Chancellor of the Exchequer Philip Hammond's remarks at the IMF Article IV Press Conference, 17 September 2018.

 

I am delighted to welcome Christine Lagarde and her team back to the Treasury this morning, to present their conclusions of the IMF’s annual Article IV assessment of the UK economy.

I had the pleasure of meeting the IMF team during the visit – and I’d like to thank them for their work, their challenging inquiries, and for the robust external scrutiny that they continue to provide.

This annual inspection is an event that we very much welcome.

It has been a valuable source of challenge for myself and my predecessors – and while we do not always follow every recommendation of Christine and her team to the letter – we certainly always listen to them, and take them into account in delivering our economic plan.

And thanks too to the hard work of the British people, we have delivered an economic plan that put jobs and prosperity first, has brought our economy back from the brink - and put it on solid footing for the future.

And the fact is – today our economy stands fundamentally strong:

Unemployment has fallen to 4% - a 40-year low;

Employment is at near record highs;

Real wages are growing again – and are set to grow substantially faster over the next three years according to the OBR;

We’ve brought the deficit down by 4/5 from a 50 year high…

…and while the IMF rightly point out that our debt is too high at 85% of GDP…

…this year it is finally set to begin falling….

…and it is very important we continue to reduce it in the years ahead.

Our economic plan has delivered growth in the economy, growth in employment, and growth in wages…

…and it has also allowed us to invest in the key priorities for the British people too:

We’re investing an extra £24 billion a year in the NHS…

…we’ve established a £31bn National Productivity Investment Fund - because as the IMF remind us – improving productivity is the key to higher real wages and raising living standards…

…we’re raising public investment to its highest sustained level in 40 years…

…and we’ve cut taxes for over 30 million people.

But we cannot take this economic progress for granted…

…we are at a critical juncture for the UK economy…

…and as we head into the final stages of the Brexit negotiations…

…we must not put these achievements – and the prosperity of the British people - at risk;

We must lock in the economic progress we have made…

…as we leave the EU we must secure a close and enduring future partnership with our European neighbours…

…and we must heed the clear warnings of the IMF and others of the significant cost that not reaching a deal with the EU will have for British jobs and British prosperity.

We have made good progress in the negotiations, - progress which the IMF welcome in their report…

…and as talks intensify, I am confident we will reach agreement on the Withdrawal Agreement and Future Framework this Autumn.

But we must, of course, continue to prepare for all scenarios…

A no-deal scenario remains unlikely – but it is not impossible.

We have released a number of technical notices setting out what citizens and businesses would need to do in the case of no deal, with more to come in the coming weeks.

The IMF are clear today that no-deal would be extremely costly for the UK – as it would also for the EU…

…and that despite the contingency actions we are taking – leaving without a deal would put at risk the substantial progress the British people have made over the past ten years in repairing our economy.

That is why it is so important for people up and down this country, that we reach a negotiated agreement on our future relationship over the coming weeks.

I’ll finish by thanking Christine and the IMF once again for their hard work – and for the ongoing scrutiny of our economic plan: We value your advice, and look forward to studying the full report when it is published later this year.

Now I’m delighted to welcome Mme Lagarde to the podium to set out the IMF’s main findings, and I look forward to hearing what she has to say.

Published 17 September 2018
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2 minutes ago, ChuckFinley said:

WOW, I was just out having a drink with her and she never offered to pick up the tab. I am shocked.  

 

Lemme guess. . . She gave you the “ bedroom eyes “ look, said she forgot her purse: and while you were in the Men’s Room, she skipped out and Stffed you with the check. 

 

😄

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1 minute ago, boosterbglee said:

So difficult to filter fake from real!

 

 

I would have to agree......Anyone else heard about the IMF and anything substantial?

 

As for this.....Nothing more than a Stall Tactic to get the vote put off until after the mid terms.......liberals really think they are going to take the Senate and then they will see to it that that seat remains vacant for 2 more years when they plan to steal the white House from POTUS Trump and the American People.

 

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TOP ARTICLES
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Brett Kavanaugh accuser will
not testify in public until FBI properly investigates her claims, says lawyer

 

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There was no Federal Law broken if anything ever did happen so the FBI would have no Jurisdiction. The Statute Of Limitation has well expired and they no there is no proof of anything from 36 years ago other than her story.......At best the liberals will hope they can flaw his credibility enough he will back down like those in the past have done......

 

The Judge needs to go after her in a big financial way or these 11th hour accusations will just continue in the future.

 

Karsten

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3 minutes ago, blueskyline said:

It was not my intent to post the article of the supreme court nominee. Only the legarde article.......... "IMF chief Christine Lagarde protested her innocence through tears on (((Friday ))) "

 

 

That was what I was wondering about.....I have not seen anything about this on OAN and they cover things no one else will touch......referring to LaGarde that is. Plenty on France, Kavanaugh, the EU and Islam, UK and Islam but nothing on the IMF.

 

Just wondering.

 

Karsten

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1 hour ago, blueskyline said:

IMF managing director Ms Lagarde was suspected of rubber stamping a deal to effectively buy off the business magnate with taxpay

 

1 hour ago, blueskyline said:

IMF chief Christine Lagarde protested her innocence through tears on Friday

GA blueskyline AND DV. :facepalm2:

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2 hours ago, 10 YEARS LATER said:

 

Lemme guess. . . She gave you the “ bedroom eyes “ look, said she forgot her purse: and while you were in the Men’s Room, she skipped out and Stffed you with the check. 

 

😄

She wanted me to join the Pairs Club. Man I was all in until I saw the Blue Couch. 

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On 9/19/2018 at 12:00 PM, blueskyline said:

Monday 19 December 2016 15:15

 

 

Kind of old news......she survived this with just a slap on the wrist..........this was a shot over her bow by the PTB.....

 

Her predecessor wasn't so lucky as the PTB set him up..........He was originally charged on sexual abuse charges concerning a Hotel NYC employee that cleaned rooms.....He was immediately removed as head of the IMF......later it was learned she lied.........the damage was done......

 

HMMMM......sound like anything else going on right now?????

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  • yota691 changed the title to Christine Lagarde convicted: IMF head found guilty of criminal charges over massive government payou

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