LATEST UPDATE: 20/03/2013

– CHRISTINE LAGARDE – FRANCE – JUSTICE

French police raid home of IMF boss Christine Lagarde

French police raid home of IMF boss Christine Lagarde
© AFP file photo

French authorities searched the Paris apartment of IMF director Christine Lagarde on Wednesday as part of their investigation into her handling of a settlement paid out to Bernard Tapie in 2008 while she was French finance minister, her lawyer said.

By News Wires (text)

French authorities searched the Paris flat of IMF chief Christine Lagarde on Wednesday as part of an investigation into her handling of a 2008 compensation payment to a businessman supporter of ex-president Nicolas Sarkozy, her lawyer said.

Police are investigating claims that Lagarde, when finance minister under Sarkozy, acted illegally in approving the 285 million euro ($367 million) arbitration payout to Bernard Tapie. She 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.