IMF Boss Christine Lagarde Faces Jail Term

By Ikenga Chronicles December 19, 2016

IMF Boss Christine Lagarde Faces Jail Term

The Head of the International Monetary Fund faces one-year jail term or an option fine of 15,000 Euros (15,665 dollars), if found guilty. This came as international communities on Monday await the verdict in a trial over an arbitration payout made when she was France’s Finance Minister.

Her defense lawyers have expressed confidence in the outcome to be handed down by a special court charged with trying former ministers.

Lagarde has denied wrongdoing over the payout ruling, which was handed down by a three-person arbitration panel in 2008.

Speaking to the court recently, Lagarde said that she had acted in her conscience and had not foreseen the risk of potential fraud by one of three esteemed jurists.

Her defense team said that she had consulted with lawyers before deciding not to appeal the ruling, and added that there was no reason to doubt the arbitration panel members.

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