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IMF chief Lagarde 'to stand trial in France' | |
(35 minutes later) | |
IMF chief Christine Lagarde is to stand trial in France for alleged negligence over a €400m (£291m; $434m) payment to a businessman in 2008, local media say. | |
Ms Lagarde, 59, was finance minister in President Nicolas Sarkozy's government at the time of the compensation award to businessman Bernard Tapie. | |
Mr Tapie supported Mr Sarkozy in the 2007 presidential election. | |
Mr Tapie was once a majority shareholder in Adidas but sold it in 1993 to become a cabinet minister. | |
He sued the Credit Lyonnais bank over its handling of the sale, alleging the partly state-owned bank had defrauded him by deliberately undervaluing the company. |