French Police Raid Christine Lagarde’s, Bernard Tapie Homes

The Telegraph has reported that International Monetary Fund (IMF) chief Christine Lagarde’s Paris flat was raided as part of an investigation into a €285 million payment made to Bernard Tapie.  His home was also raided. 

Tapie heads up the International Stadiums Poker Tour and the purpose of the raid was to determine if Lagarde acted illegally when approving a €285 Million arbitration payout to Tapie.

From the Guardian:

The IMF chief has been the subject of preliminary investigations for "complicity in the embezzlement of public funds", since 2011, when Tapie was awarded €284m of public money in compensation in a financial dispute while she was economy minister.

The search came hours after the French government was rocked by a separate scanal after the budget minister Jerome Cahuzac was put under criminal investigation amid claims he hid money from the French taxman in a secret Swiss bank account. Lagarde and Cahuzac have vehemently denied any wrongdoing.

- Ace King, Gambling911.com