Guilty? Corruption case moves forward against the head of International Monetary Fund

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.

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.

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"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).

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