Europe

1:07am

Thu May 19, 2011
Business

IMF's Strauss-Kahn Resigns Amid Sex Charges

Dominique Strauss-Kahn, the embattled managing director of International Monetary Fund, resigned Wednesday, saying he wanted to devote "all his energy" to battle the sexual assault charges he faces in New York.

The IMF's executive board released a letter from the French executive Wednesday in which he denied the allegations lodged against him but said that with "sadness" he felt he must resign. He said that he was thinking of his family and that he wanted to protect the IMF.

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