French police raid IMF chief home in scandal probe
PARIS (AFP) - French police on Wednesday carried out a raid on the Paris home of IMF chief Christine Lagarde in connection with a probe into her handling of a high-profile scandal when she was a government minister.
The investigation concerns Mrs Lagarde's 2007 decision to order a panel of judges to arbitrate on the fallout from a dispute between disgraced tycoon Bernard Tapie and the collapsed bank Credit Lyonnais. The arbitration resulted in Mr Tapie being awarded around 400 million euros (S$647 million).
Mrs Lagarde's lawyer Yves Repiquet told AFP that his client was cooperating with the investigation.
"Mrs Lagarde has nothing to hide," he said. Mrs Lagarde herself has defended the controversial decision to send the Tapie case to arbitration, describing it as "the best solution at the time".