Global Elite Win Again, IMF’s Christine Lagarde Avoids Prison

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A French court has convicted Christine Lagarde of negligence over a $297 million payout she oversaw as France’s Finance Minister. The payout over an arbitration deal that favored French businessman Bernard Tapie.

Tapie, who previously owned the company, Adidas, has had a number of serious legal issues going back to 1993.

The arbitration agreement, which was approved by Lagarde, stemmed from a dispute between Credit Lyonnais and Bernard Tapie over his sale of Adidas.

In 2008, Tapie accepted a $297 million award that Christine Lagarde improperly rubber-stamped. Seven years later, a court overturned the award and Tapie was ordered to repay the amount with interest.

Lagarde, who is now the Managing Director of the International Monetary Fund, will not be punished despite her conviction.

The International Monetary Fund essentially serves as a bank to other nations facing growth or financial crisis.

The United States contributes an incredible $86 billion to the IMF as part of America’s “quota” that constitutes 17.5% of the IMF’s total holdings.

Lagarde’s attorney stated that they are considering an appeal to the Parisian court’s decision.

Adam Campbell
Adam Campbell is a former military brat, who grew up all over the world--but considers Milwaukee, WI, where he and his wife currently live, to be his home. He enjoys reporting the real news, without bias.