Conviction seen as largely symbolic as Christine Lagarde will not be penalized over controversial payments
WEB DESK
A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but ruled that she will not be penalised.
As French Finance Minister in 2008, she approved an award of 429 million dollars to businessman Bernard Tapie for the disputed sale of a firm.
Ms Lagarde was not present in the court in Paris for the verdict, having left France for Washington. On Friday she told the trial she had always acted in good faith.
The International Monetary Fund board is expected to meet shortly to discuss the implications of the surprise guilty verdict against IMF chief Christine Lagarde today in a French court.
The Executive Board has met on previous occasions to consider developments related to the legal proceedings in France.
IMF spokesman Gerry Rice said in a statement it is expected that the Executive Board will meet shortly to consider the most recent developments.