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IMF head Lagarde found guilty of negligence, won't face punishment

International Monetary Fund head Christine Lagarde has been convicted of negligence, but will not face a fine or jail sentence, Bloomberg News reported Dec. 19.

The former French finance minister was found guilty over one count of negligence regarding a huge state payout to businessman Bernard Tapie during her time in office.

The case revolves around a €400 million arbitration agreement in favor of Tapie regarding a long-running dispute over the sale of a stake in a company. The judges ruled that Lagarde should have done more to overturn the award, which has subsequently been cut to zero.