Scandals




Lagarde has been convicted of giving preferential treatment to businessman-turned-politician Bernard Tapie as he pursued a legal challenge against the French government. At the time, Lagarde was the French economic minister. Within hours of her conviction, in which she escaped any punishment, the fund's 24-member executive board put to rest any speculation that she might have to resign, praising her "outstanding leadership" and the "wide respect" she commands around the world.

Former IMF Managing Director Rodrigo Rato was arrested on 16 April 2015 for alleged fraud, embezzlement and money laundering. On 23 February 2017, the Audiencia Nacional found Rato guilty of embezzlement and sentenced to 4​1⁄2 years' imprisonment. In September 2018, the sentence was confirmed by the Supreme Court of Spain.

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