BUSINESS

Christine Lagarde, IMF Chief, Sees Paris Home Searched In Probe Of $400-Million Deal

03/20/2013 08:47 EDT | Updated 05/20/2013 05:12 EDT
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International Monetary Fund (IMF) Managing Director Christine Lagarde gives a speech during a session of the World Economic Forum Annual Meeting 2013 on January 23, 2013 at the Swiss resort of Davos. The World Economic Forum (WEF) will take place from January 23 to 27. AFP PHOTO / JOHANNES EISELE (Photo credit should read JOHANNES EISELE/AFP/Getty Images)
PARIS - A lawyer for IMF chief Christine Lagarde says French investigators have searched her Paris home as part of an inquiry into her role in a $400 million arbitration deal in favour of a tycoon.

The lawyer, Yves Repiquet (eev ruh-PEE-kay), says Lagarde has nothing to hide and welcomed Wednesday's search as another step in proving her innocence.

Lagarde was France's finance minister when magnate Bernard Tapie won a 2008 settlement with a state-owned bank over the mishandled sale of Adidas in the 1990s. Critics said the settlement was too generous.

Questions about the settlement began before Lagarde was appointed head of the Washington-based International Monetary Fund after her predecessor, Dominique Strauss-Kahn, quit to face charges he tried to rape a New York hotel maid. The charges against Strauss-Kahn were dropped.

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