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Paris home of IMF chief searched in probe of $400 million arbitration deal
The building believed to contain the home of Managing Director of the International Monetary Fund Christine Lagarde, in Paris, Wednesday, March 20, 2013 after her lawyer says French investigators have searched it as part of an inquiry into her role in a $400 million arbitration deal in favor of a tycoon, Bernard Tapie who won a 2008 settlement with a state-owned bank over the mishandled sale of Adidas in the 1990s. (AP Photo/Francois Mori)
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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Goldman Sachs sells remaining stake in Industrial & Commercial Bank of China for $1.1 billion
3:47 AM 0MACAU, Macau - Goldman Sachs has sold its remaining stake in China's biggest commercial lender for $1.1 billion.
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