Ex-IMF boss Rato sentenced to jail in Spain over credit card scand
Source: Reuters
Thu Feb 23, 2017 | 4:34pm GMT
Ex-IMF boss Rato sentenced to jail in Spain over credit card scandal
Former International Monetary Fund chief Rodrigo Rato was sentenced to 4-1/2 years in prison by Spain's High Court on Thursday following a scandal over the widespread misuse of company credit cards during his tenure at lender Bankia.
Rato, who was economy minister in Spain and a prominent figure in the ruling People's Party (PP) before moving to the IMF, chaired Bankia for two years until just before its state bailout in 2012.
He had been on trial along with 64 other executives and former board members of Bankia and its founding savings bank Caja Madrid.
The case is one of several high-level corruption investigations now coming to fruition and seen as a test of whether Spain's rich and powerful are accountable to the law.
Read more: http://uk.reuters.com/article/us-spain-corruption-idUKKBN1621JS
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