MOSCOW, August 27 (RIA Novosti) – International Monetary Fund chief Christine Lagarde said Wednesday she was placed under official investigation in France over her alleged involvement in a corruption scheme when she was France’s finance minister, Agence France-Presse reported.
“The investigating commission of the court of justice of the French Republic has decided to place me under formal investigation," Lagarde told AFP.
Lagarde is reportedly being investigated for approving a 400-million-euro ($531 million) payout to businessman Bernard Tapie, a friend of former French President Nicolas Sarkozy, in a 2008 settlement on his claim against a state-owned bank.
The agency reported that the IMF head has denied any wrongdoing.
“I have instructed my lawyer to appeal this decision, which I consider totally without merit," Lagarde was quoted as saying.
Under French legislation, being placed under investigation is almost the same as being charged, however, it does not necessarily lead to a trial.