SHOCK

IMF’s Lagarde Convicted on Corruption Charges

In surprise verdict.

International Monetary Fund Managing Director Christine Lagarde was unexpectedly convicted Monday of criminal charges in connection with a misuse of public funds while she served as France’s finance minister. Lagarde is not expected to face jail time. Just last week, prosecutors said their case against her was “very weak.” Lagarde was accused of having used her cabinet position in France’s government to give special treatment to Bernard Tapie, a former owner of Adidas who was convicted on his own corruption charges. Lagarde’s future as IMF chief is in doubt. She is set to begin her second five-year term in July 2017.