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IMF Chief Lagarde to hear from court over tax case

08-04-2011 08:37 BJT

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IMF Chief Christine Lagarde is expected to hear from a French court on Thursday whether she should be formally investigated over her decision to settle a controversial tax case, involving a friend of President Nicolas Sarkozy.

Prosecutors say Lagarde abused her authority by approving a 285-million-euro payment, to businessman Bernard Tapie in 2008. The payment was to settle Tapie's claim that former state-owned bank Credit Lyonnais defrauded him in 1993.

Lagarde has denied any misconduct. She pressed ahead with the arbitration, arguing it was needed to resolve the case swiftly. There's no suggestion Lagarde profited from the settlement. Judicial sources say it's likely a probe will be opened after two senior finance ministry officials have been referred to disciplinary panels, but the probe may run on for years.

IMF Chief Christine Lagarde is expected to hear from a
French court on Thursday whether she should be formally
investigated over her decision to settle a controversial
tax case, involving a friend of President Nicolas Sarkozy.

General Secretary French USM Magistrates’ Union Virgine Duval, said, "Any investigation could take a very long time and one could expect it to take several years as there would be a lot of witnesses to interview, among them Mrs Lagarde, who could also investigated as a suspect. That is a procedure which is particular to France when investigations are being carried out. And so, the three professional magistrates could investigate the matter for several years."

 

Editor:Zhang Jingya |Source: CNTV.CN

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