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Corrupt IMF Boss Lagarde Acted For French People

Corrupt IMF Boss Lagarde Acted For French People
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Lagarde tells trial she acted in interests of France

IMF boss Christine Lagarde told her trial Friday she had acted in good faith in the case of a massive state payout to a tycoon when she was French finance minister. Lagarde, the managing director of the International Monetary Fund (IMF), was questioned about a state payout she had authorised for flamboyant

In her role as France's finance minister in 2008, Lagarde stands accused of waving through a 404-million-euro settlement with Tapie, a businessman close to her then boss, ex-president Nicolas Sarkozy.

The payout was subsequently cancelled by the courts.

Tapie sold Adidas to state-owned bank Credit Lyonnais for 315.5 million euros in 1993. The bank sold it again the year after for 701 million euros, leading Tapie to claim he had been cheated.

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