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Spain’s Supreme Court endorses imprisonment of ex-IMF chief

/ 09:04 PM October 03, 2018

MADRID  — Spain’s Supreme Court has confirmed a four-and-a-half-year prison sentence for former International Monetary Fund head Rodrigo Rato for misusing a Spanish bank’s corporate credit card.

A judge of the lower court will now need to order the imprisonment in the next few days of Rato, who was IMF chief from 2004 to 2007 and previously a leading figure in Spain’s conservative Popular Party and Spanish economy minister.

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The National Court last year convicted Rato of unlawful misappropriation of funds during his 2010-12 leadership of Bankia, a bank that was later bailed out.

Rato had denied that the credit cards were used for irregular and undeclared expenses.

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Rato received the severest sentence among the 64 defendants in the case. /ee

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TAGS: imprisonment, International Monetary Fund, International news, Rodrigo Rato, Spain's Supreme Court
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