A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment.
As French finance minister in 2008, she approved an award of €404m ($429m; £340m) to businessman Bernard Tapie for the disputed sale of a firm.
Lagarde, who always denied wrongdoing, was not present in court, having left France for Washington.
The IMF board is to meet “shortly” to consider the latest developments.
On Friday, Lagarde told the trial she had always acted in good faith.
Verdicts of the Court of Justice of the Republic (CJR) are not subject to appeal, French media say.Nonetheless, Lagarde’s lawyer said his team would consider appealing, Reuters news agency reports.
Lagarde replaced Dominique Strauss-Kahn as IMF managing director in 2011.
Mr Strauss-Kahn – also a former French finance minister – resigned following his arrest in New York on charges of sexual assault that were later dropped.
Another former IMF head, Rodrigo Rato of Spain, is currently standing trial on charges of misusing funds when he was head of Spanish lender Bankia.
Public outcry
Lagarde, 60, was tried on charges of “negligence by a person in position of public authority”.
Accused of allowing the misuse of public funds, rather than actual corruption, she could potentially have been sentenced to a year in prison.
The CJR is composed mostly of politicians rather than judges, and handles allegations of crimes committed by cabinet ministers in office.
Source:BBC
