'IMF Chief Lagarde to Stand Trial Over Payout to French Tycoon'

Paris: International Monetary Fund (IMF) chief Christine Lagarde has been sent to trial over her handling of a massive state payout to French tycoon Bernard Tapie during her time as finance minister, a legal source said on Thursday.

Lagarde had been charged with negligence in the case in which Tapie was awarded more than 400 million euros ($433 million) in a 2008 dispute with the Credit Lyonnais bank over the sale of sportswear giant Adidas in 1993. Tapie was ordered to pay back the money at the beginning of this month.