Resigned IMF Head Granted Bail

UPDATE: Strauss-Kahn was granted release from Rikers Island prison by a Manhattan judge, who ordered the former IMF chief to post a $1 million bond. Click here to read more…

NEW YORK — Dominique Strauss-Kahn announced Wednesday evening that he will be resigning from his position as Managing Director of the International Monetary Fund to focus on fighting accusations that he raped a hotel maid in New York.

“It is with infinite sadness that I feel compelled today to present to the Executive Board my resignation,” Strauss-Kahn said in a letter to the international body’s board. “I want to protect this institution which I have served with honor and devotion, and especially—especially—I want to devote all my strength, all my time, and all my energy to proving my innocence.”

“Together we have accomplished such great things over the last three years and more,” Strauss Kahn noted.

The IMF has stated that they will formally appoint a new Managing Director soon. In the interim, John Lipsky, a former Vice Chairman at JP Morgan, is holding the position.

Strauss-Kahn is currently being held without bail in New York’s Rikers Island prison. In his letter, he denied the allegations with “the greatest possible firmness.”

Strauss Kahn’s lawyers are reportedly making a new bid for bail.

The entire letter can be read here.

This story was updated at 4:05 pm.