Tue, Aug 30, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

IMF chief Strauss-Kahn denied bail, to face grand jury

Monday, May 16, 2011
Opalesque Industry Update – International Monetary Fund chief Dominique Strauss-Kahn is set to face a grand jury and will remain in custody after New York Judge Melissa Jackson on Monday denied him bail on the charges that he sexually assaulted and attempted to rape a New York hotel chambermaid.

It was reported that a 23-member grand jury would decide within the next three days if there is sufficient evidence to indict Strauss-Kahn for the crimes.

But New York law professor Randolph Jonakait explained that the grand jury might move for a trial should the victim testify against the IMF chief. Should this happen, a second arraignment will be set and Strauss-Kahn will be read the charges against him. The actual trial will be set anywhere between three months and one year, unless a plea bargain agreement is reached between the prosecutors and the defense.

The case will be heard by a judge at the New York Supreme Court should the case goes into trial.

Strauss-Kahn’s lawyers failed to convince the court to release him on $1m bail and denied the allegations against the once strong contender for the French Presidency position. His arrest has already altered the political landscape in France.

His lawyers said Strauss-Kahn was not a flight risk and was having lunch with a friend inside the Manhattan hotel where the alleged incident occurred, on Saturday. The friend will testify on his behalf, the lawyers added.

But prosecutors argued that the IMF chief should remain in custody on concerns he might flee to France if released.

Media outlet The Australian quoted Judge Jackson as commenting at the manner in which Strauss-Kahn had been arrested, "When I hear that your client was at JFK airport about to board a flight that raises some concerns."

Court records showed that the 62-year-old Strauss-Kahn, allegedly "attempted to pull down the pantyhose, forced her to engage in anal sexual conduct" and twice making her perform oral sex by using actual physical force,” on a 30-year-old chambermaid inside the $3,000 a night suite at the Sofitel New York where the girl works.

The woman, who lives in an apartment in Bronx with her 16-year-old daughter, later identified Strauss-Kahn in a line up. She was described by her colleagues as “a good person with no criminal records.”

Meanwhile, as the Strauss-Kahn drama unfolds, the IMF’s executive board has announced on Monday that it has not made any decision on the future of their chief.

It said in a statement, "The board was briefed regarding criminal charges that have been brought against the managing director during a private visit to New York City. The IMF and its executive board will continue to monitor developments."
Precy Dumlao

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Commodities - Hedge funds pile into bullish bets on U.S. crude by most on record, Rig count steady, hedge funds dump short contracts on 63 million barrels, Hedge funds bail on Copper as Goldman predicts ‘supply storm’, Hedge funds pile up bets against sterling[more]

    Hedge funds pile into bullish bets on U.S. crude by most on record From BRecorder.com: Hedge funds and other speculators raised their bullish bets on US crude oil in the past week by the most on record fuelled by speculation that Organization of the Petroleum Exporting Countries will agr

  2. Investing - U.S. hedge fund Marathon makes Brexit bet on European property, Hedge funds love Liberty and John Malone, DE Shaw could bid for control over TerraForm Power, New York hedge fund increases stake in Tronc as sale talks continue, Don't wait too long to check this +20% value fund's ideas[more]

    U.S. hedge fund Marathon makes Brexit bet on European property From FT.com: Marathon, a $13bn US hedge fund, is building a big Brexit trade, increasing its investments in property across Ireland, France, Germany and the Netherlands, in a bet that they will be among the big beneficiaries

  3. The Big Picture: Water is single largest environmental investment opportunity[more]

    Benedicte Gravrand, Opalesque Geneva: Water, the world’s most precious and undervalued commodity, is set to lead the socially and environmentally responsible investment themes. This is according to specialist fund manager Thomas Schumann. His firm,

  4. Opalesque Exclusive: Investors struggle to identify the better performing hedge funds[more]

    Komfie Manalo, Opalesque Asia: Fund managers and investors believe that performance is one of the major factors driving change in the hedge fund industry, a Preqin survey showed in its latest Hedge Fund Spotlight. Preqin said that the disappoin

  5. …And Finally - Baby born on Cebu Pacific airplane gets 1 million air miles[more]

    From CNN.com: Here's one kid who'll probably learn to fly before she can crawl. After being born four hours into a flight from Dubai to Manila, baby girl Haven has been gifted 1 million air mile points. Haven's mom went into labor more than five weeks early while flying on an aircraft op