IMF's Christine Lagarde Found Guilty Of Negligence

By Victor Reklaitis Markets MarketWatch Pulse

A French court on Monday found International Monetary Fund Managing Director Christine Lagarde guilty of negligence, though a judge said there would be no sentence for the former French finance minister, according to media reports. She had been on trial in France over allegations of negligence in her handling of a public financial settlement. The charges against Lagarde stem from her role nearly 10 years ago in settling a long-running dispute known as "L'Affaire Tapie" that pitted the French state against Bernard Tapie, a tycoon-turned-politician, The Wall Street Journal said. The state ultimately paid €405 million ($429 million) to Tapie.

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