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BREAKING NEWS: IMF Chief Christine Lagarde found guilty of 'negligence'

IMF chief Christine Lagarde found guilty of 'negligence'

Christine Lagarde, the International Monetary Fund's managing director, has been found guilty of "negligence" over a huge payout to a business tycoon while she served as France's finance minister.However, the Court of Justice of the Republic - a special tribunal for ministers - chose not to hand her down a prison sentence. She faced a one-year term and a €15,000 (£13,000) fine.The verdict threatens to derail the stellar career of the first woman ever to become finance chief of a Group of Eight country.

In ruling that came after a week-long trial in which she received a rough ride.

Christine Lagarde in court on Monday CREDIT: EPA/CHRISTOPHE PETIT TESSON

Ms Lagarde had maintained her innocence, and the prosecutor had asked for an acquittal over the "very weak" case after advising against bringing the case to court.

The trial centre on Ms Lagarde's 2007 decision to allow a dispute over flamboyant magnate Bernard Tapie's sale of the Adidas sports brand to Credit Lyonnais bank to be resolved by a rarely-used private arbitration panel, instead of through the courts.

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