Just In: IMF chief, Lagarde convicted of criminal charges

A French Court has found the Managing Director of the International Monetary Fund (IMF), Christine Lagarde guilty of negligence.

However, the judge ruled that Lagarde would not be penalised.

She was accused of approving the award of €404m ($429m; £340m) to businessman Bernard Tapie for the disputed sale of a firm during her time as French Finance Minister.

Lagarde was absent in court when the judgment was delivered, having left France for Washington.

Her legal team said it would look into appealing against Monday’s verdict.

She was tried by the Court of Justice of the Republic (CJR) on charges of “negligence by a person in position of public authority”.

Lagarde’s predecessor, Dominique Strauss-Kahn resigned as managing director when he was accused of having sexually assaulted a maid in a New York City hotel.

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