Monday, December 12, 2016

Processes: Lagarde defends itself in court against allegations of TIME ONLINE

Paris (Reuters) – IMF Chief Christine Lagarde has defended in court their role in the affair to a possible embezzlement of state million in France.

“I want to prove to you that I am in no way negligence is guilty,” said Lagarde in front of the Paris court of justice of the Republic.

The 60-Year-old is accused of negligence in the office , so that you should have in your time as Minister for Finance, in Paris, the embezzlement of public funds. In the case of a conviction, you could face up to a year’s imprisonment and 15 000 Euro fine. It would also raise the question of whether you can remain at the head of the International monetary Fund (IMF).

Lagarde had given the 2007 green light for arbitration , which awarded the business man Bernard Tapie more than € 400 million. Meanwhile, the justice determined due to suspicion of fraud against multiple Parties, it should have given the Links between Tapie and the arbitration of men.

the Background is a legal dispute that began in the 1990s: The businessman Tapie had seen in the sale of its shares in the German sports goods manufacturer Adidas of the former state Bank Crédit Lyonnais cheated. He and the administrator of his insolvent group of companies went to court, finally agreed to the arbitration. The high compensation caused a lot of criticism and has now been overturned by the courts.

Lagarde had agreed to the arbitration and later to an appeal is waived, according to the indictment, hastily and without adequately deal with the matter. She herself has rejected the accusations wore on. You don’t have a preferred Tapie, said Lagarde in a Sunday evening televised Interview for the channel France 2. You’ve tried to make it as good as possible – “within the limits of what I knew”. In court, she did not rule out that she may have been deceived. “We will know maybe one day, I want to know,” she said.

Lagarde’s lawyer, Patrick Maisonneuve proposed that the process to suspend. He argued that the ongoing proceedings against Tapie and other Stakeholders should be awaited. Previously, it is not clear whether in fact public funds were misappropriated. The court continued the hearing to deliberations, however, and heard then, Lagarde.

According to data from the IMF circles, there is no provision, according to Lagarde, in the case of a conviction is mandatory, your office would have to give up. Your credibility would be shattered. “In the unlikely event of a guilty verdict would have to decide the Executive Council, what to do,” it said in Washington.

the process of seven days to 20. December recognized. The court of justice of the Republic, a special court only for violations of the law of Ministers in the framework of their office is responsible. It consists of three professional judges and twelve members of Parliament.

Lagarde had been appointed in 2007 by then – President Nicolas Sarkozy to the Minister for Finance and economy. In 2011, she moved after the resignation of her compatriot Dominique Strauss-Kahn as IMF chief in Washington.

Adidas shares, and millions of armed

the Grande Dame of The international financial world

Lagarde and the million-dollar decision


No comments:

Post a Comment