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Former IMF head Rato gets to 4.5 years in prison for embezzlement

Former IMF head Rato gets to 4.5 years in prison for embezzlement

Photo: AFP/Dani Pozo

A Spanish court last Thursday, Rodrigo Rato, ex-minister of Finance and the former head of the International Monetary Fund (IMF), sentenced to 4.5 years in prison for embezzlement.

AFP reports that in Proportion to credit cards from his former employer, the Spanish bank Bankia, used for personal expenses. That was after his time at the IMF, where he between 2004 and 2007 worked as a director. Rota denied all the allegations.

He was rightly together with sixty-four other (ex-)employees of Bankia and parent company Caja Madrid. The former chairman of Caja Madrid, Miguel Blesa, received a prison sentence of six years imposed.

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