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By Catholic Online (NEWS CONSORTIUM)

8/28/2014 (1 year ago)

Catholic Online (

Accused of losing more than $400 million, will the IMF chief resign?

Christine Legarde, the chief of the International Monetary Fund (IMF) and one of the most powerful women in the world, has been charged with "negligence" over a multi-million-euro graft case relating to her time as a French finance minister.

Christine Legarde, the chief of the International Monetary Fund, who is facing charges currently in France.

Christine Legarde, the chief of the International Monetary Fund, who is facing charges currently in France.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

8/28/2014 (1 year ago)

Published in Europe

Keywords: Europe, France, Finance, Legal, IMF, Corruption

LOS ANGELES, CA (Catholic Online) - This shocking announcement was made on August 27, just a day after she was grilled for more than 15 hours by a special court in Paris that probes ministerial misconduct, which is the fourth time that she has been questioned in a case that has long been a factor for some on whether she should remain the managing director of the IMF.

You can be a light in this dark world with "prayer and action."

"The investigating commission of the court of justice of the French Republic has decided to place me under formal investigation," Legarde said in her announcement.

In France, when an individual is under formal investigation it is similar to being charged with a crime, and occurs only if an examining magistrate has decided there is a case. It does not always lead to a trial however.

"I have instructed my lawyer to appeal this decision, which I consider totally without merit," she said. "I return back to Washington where I will indeed brief my board," she added.

This case involves Legarde's handling of a 400-million-euro ($528-million) state payout to disgraced French tycoon Bernard Tapie in 2008, which investigating judges suspect may have been doled out in return for political support form ex-president Nicolas Sarkozy in the 2007 election.

In France, those who are found guilty of "negligence" can revieve a year in prison, and a fine of 15,000-euros ($19,776).


Pope Francis: end world hunger through 'Prayer and Action'

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Pope Francis Prayer Intentions for October 2015
That human trafficking, the modern form of slavery, may be eradicated.
Evangelization: That with a missionary spirit the Christian communities of Asia may announce the Gospel to those who are still awaiting it.


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