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Police raid the home of IMF chief Christine Lagarde

By Mason White 8:49 AM March 21, 2013
Christine Lagarde 

By: Debbie Gross
(Scroll down for video) The home of the IMF chief has been raided by police, according to press reports in France.

French police on Wednesday searched the Paris apartment of Christine Lagarde, who is the managing director of the International Monetary Fund, as part of an investigation into her handling of a financial scandal when she was French finance minister.

The investigation concerns Lagarde’s decision in 2007 to refer to a court of arbitration a dispute between Bernard Tapie, a French billionaire and supporter of the former president, Nicolas Sarkozy, and the state bank Credit Lyonnais. The panel finally negotiated a deal that awarded Tapie about $580 million, including interest.

A panel of judges is investigating whether she was complicit in the embezzlement of public funds in what critics say was a prize too generous to a presidential friend.

Lagarde has repeatedly denied the allegations and has expressed her willingness to cooperate with any investigation.Mobile video not loading? Click here to view