DAILY NEWS: Dominique Strauss-Kahn resigns as head of IMF

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Strauss Kahn, who is facing charges of sexual assault and attempted rape, denied the allegations in his letter of resignation

Dominique Strauss-Kahn has resigned as head of the International Monetary Fund, the IMF said in a statement dated May 18, as he faces charges of sexual assault and attempted rape.

"I deny with the greatest possible firmness all of the allegations that have been made against me," Strauss-Kahn said in his letter of resignation, released by the IMF.

Strauss-Kahn is to make a second application for bail on Thursday in New York with is his lawyers set to offer new bail terms including $1m in cash and to place their client under house arrest.

He is currently being held in New York's Rikers Island prison after being charged with the attempted rape of a hotel employee. A judge rejected his initial plea for bail agreeing with prosecutors that he was a flight risk.

A grand jury has now been convened to assess whether Strauss-Khan will be indicted. Their decision will not be known until Friday. The decision to press for bail ahead of Friday's decision suggests lawyers are urgently trying to free Strauss-Kahn from Rikers where he has been held since Monday. If he is released on bail, the deadline to secure an indictment would be extended.

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19 May, 2011

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Source: http://www.guardian.co.uk/world/2011/may/19/dominique-strauss-kahn-resigns-imf
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