Tue, Apr 24, 2018
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. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its