IMF chief could face 25 year prison sentence

| May 17, 2011 | 0 Comments
IMF chief could face 25 year prison sentence

Dominique Strauss-Kahn, managing director of the International Monetary Fund (IMF), could be sentenced to up to 25 years in prison if he is convicted of the most serious charge.

Sixty-two-year-old Strauss-Khan was arrested at the weekend after being accused of sexually assaulting a hotel maid in New York.

Mr Strauss-Kahn denies the charges and is being held, without bail, at New York’s Rikers Island jail and will appear in court on 20 May.

The Washington-based Fund, which oversees the global financial system, has had an active role in arranging bailout packages for euro zone economies, including Greece and Portugal.

However, now the Fund has lost its chief, there are reports that Christine Lagarde, France’s Finance Minister, will take over – becoming the first woman in the job.

Another frontrunner is Germany’s Axel Weber, who was considered favourite for President of the European Central Bank.

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