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Dominique Strauss-Kahn
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/ By Alan Gallindoss /
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Dominique Strauss Kahn is putting some his domestic troubles behind him at least with two new Russian board memberships.
The Russian Direct Investment Fund (RDIF) announced last Friday evening that Strauss-Kahn, who headed the International Monetary Fund for four years and was France’s finance minister for two, has been appointed to the supervisory board of the Fund.
The RDIF is a $10 billion fund established by the Russian government to make equity investments primarily in the Russian economy, with Kirill Dmitriev as its CEO. Its investment mandate is to co-invest alongside large global private investment groups, and act as a catalyst for inbound direct investment through successful partnerships.
The fund, which was created in 2011 is a 100% subsidiary of Vnesheconombank (VEB), Russia’s state development bank and will operate according to international best practices of investment governance.
Earlier last week, Dominique Strauss Kahn was also appointed to the supervisory board of the Russian Regional Development Bank, owned by Russian state oil giant Rosneft.
Meanwhile at home Dominique Strauss Kahn faces the prospect of now going to trial on charges of “pimping” for group sex sessions in the French Provincial town of Lille.
Back in June prosecutors had called for the charges against Strauss-Kahn, 64, to be dropped, saying there was insufficient evidence to proceed to trial.
But in a statement Friday, the Lille prosecutors’ office said investigating magistrates had over-ruled them and ordered Strauss-Kahn and other defendants in the case to face trial, though on the lesser charge of “aggravated pimping as part of a group”.
If found guilty the maximum sentence could be up to 10 years in prison and a fine of up to US $2 million.
It was left unclear whether prosecutors would now try to appeal the decision to proceed to trial. In the French legal system, investigating judges can overrule recommendations from prosecutors and force them to take suspects to trial, even when they don’t think they can win.
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