IMF chief Lagarde under formal investigation

International Monetary Fund chief Christine Lagarde has been placed under formal investigation for negligence relating to a long-running political fraud case, an unnamed source has told Reuters.

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IMF chief Lagarde: Formal investigation 'is without basis'

International Monetary Fund chief Christine Lagarde has said the decision to formally investigate her over negligence claims was "without basis".

In a statement after a fourth round of questioning before magistrates, Lagarde said she was returning to work in Washington later in the day.

International Monetary Fund chief Christine Lagarde said the decision was 'without basis'. Credit: Olivier Douliery/ABACA USA/Empics Entertainment

"After three years of proceedings, dozens of hours of questioning, the court found from the evidence that I committed no offence, and the only allegation is that I was not sufficiently vigilant," Lagarde said.

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