Police search IMF chief Lagarde's flat in 'embezzlement probe'

clock

Police have searched International Monetary Fund (IMF) head Christine Lagarde's Paris apartment as part of an investigation into suspected embezzlement, Reuters reports.

The investigation is focusing on her handling of a 2008 compensation payment to a businessman supporter of ex-president Nicolas Sarkozy. According to the report, French police are probing claims Lagarde acted illegally when, in her role as French finance minister under Sarkozy, she approved a €285m arbitration payout to Bernard Tapie. Lagarde (pictured) denies any wrongdoing. "This search will help uncover the truth, which will contribute to exonerating my client from any criminal wrongdoing," Lagarde's lawyer, Yves Repiquet, told Reuters. Lagarde replaced Dominique Strauss-Kahn...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Bank of England chief economist Huw Pill: Interest rate cuts remain 'some way off'

Bank of England chief economist Huw Pill: Interest rate cuts remain 'some way off'

'Relatively cautious approach' to rate cuts

Valeria Martinez
clock 23 April 2024 • 2 min read
UK consumer confidence hits two-year high as disposable income rises

UK consumer confidence hits two-year high as disposable income rises

Deloitte Consumer Tracker

Cristian Angeloni
clock 19 April 2024 • 2 min read
UK retail sales flatline as consumers cut back on food

UK retail sales flatline as consumers cut back on food

Following 0.1% increase in February

Cristian Angeloni
clock 19 April 2024 • 1 min read
Trustpilot