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Christine Lagarde's flat searched over Tapie compensation case

Last Updated: Wednesday, March 20, 2013 - 19:00

Zeebiz Bureau

Paris: French investigators have searched IMF chief Christine Lagarde's Paris home on Wednesday as part of an inquiry into her role in a 2008 compensation payment to a businessman supporter of ex-president Nicolas Sarkozy, her lawyer Yves Repiquet said.

Police are investigating claims that Lagarde, who was finance minister under Sarkozy, acted illegally in approving the 285 million euro (USD 367 million) arbitration payout to Bernard Tapie.

Lagarde was France's finance minister when magnate Bernard Tapie won a 2008 settlement with a state-owned bank over mishandled sale of Adidas in the 1990s.

With Agency Inputs

First Published: Wednesday, March 20, 2013 - 18:52
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