A Madrid court on Friday sentenced Rodrigo Rato, the former head of the International Monetary Fund (IMF) and a former Spanish economy minister, to four years, nine months, and one day in prison for tax crimes, money laundering, and corruption.
Rato, once a towering figure in global finance and Spanish politics, was found guilty of defrauding the Spanish tax office of €8.5 million between 2005 and 2015.
The court’s ruling stated that Rato committed “three offences against the treasury, one offence of money laundering, and one offence of corruption between individuals.” In addition to his prison sentence, he was fined over €2 million.
While Rato has the option to appeal the verdict at the Supreme Court, he refused to make any immediate comments on the ruling, choosing instead to extend a “merry Christmas” to journalists waiting outside the court.
Rato, who served as economy minister and deputy prime minister under José María Aznar’s conservative government before leading the IMF from 2004 to 2007, has faced legal troubles for years.
His conviction follows an earlier 2018 sentencing of four and a half years for misusing company credit cards while heading the Spanish lender Bankia.
The misuse of Bankia funds between 2010 and 2012 turned public attention toward Rato as a symbol of financial misconduct during Spain’s economic crisis.
Source : osundefender.com
