IMF Head Lagarde Convicted Of Negligence, Faces No Jail Time; IMF Board To Meet Shortly

Update: The IMF says in a statement following the Lagarde news that its board will meet shortly to consider the conviction.
‘The executive board has met on previous occasions to consider developments related to the legal proceedings in France,’ IMF spokesman Gerry Rice says in e-mail, and adds that ‘It is expected that the board will meet again shortly to consider the most recent developments’:
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International Monetary Fund Managing Director Christine Lagarde was found guilty of one count of negligence by a French court today, according to Bloomberg News. She was accused of failing to prevent a massive government payout to businessman Bernard Tapie eight years ago, while serving as France’s finance minister, but most surprising, she will face no fine or jail sentence.

This post was published at Zero Hedge on Dec 19, 2016.