Former head of the International Monetary Fund and French presidential candidate Dominique Strauss-Kahn has reached an agreement with a hotel maid who accused him of sexual assault at a New York hotel in May 2011, sources told the New York Times Thursday.

While both Strauss-Kahn (commonly referred to by his initials, DSK) and the maid, Nafissatou Diallo, admit that sexual contact took place, Strauss-Kahn has referred to it as a consensual "moral failure."

Diallo reported the encounter as a violent sexual assault and the state brought criminal charges against Strauss-Kahn, but these were later dropped as the case began to come apart. Strauss-Kahn was forced to resign his post at the IMF as well as drop out of the presidential race in France, which was eventually won by a fellow member of the Socialist Party, Francois Hollande.

Strauss-Kahn is not clear of all sex-related legal troubles, having been charged by French authorities last October of being part of an organized prostitution ring.

Read more of Neon Tommy's coverage of Dominique Strauss-Kahn here.

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