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Spain court sentences ex-IMF chief to more than four years over dishonesty | News


Spain court sentences ex-IMF chief to more than four years over dishonesty | News


Rodrigo Rato establish culpable of multiple offences including dishonesty and hideing money.

A Madrid court has sentenced createer International Monetary Fund (IMF) chief Rodrigo Rato to more than four years in prison for tax crimes, hideing money and dishonesty.

Judges establish Rato culpable of “three offences aachievest the Treasury, one offence of hideing money and one offence of dishonesty between individuals”, the court shelp in a statement on Friday.

Rato, who had already spent two years in prison over a split misappropriation case during his tenure as chairman of Spanish lfinisher Bankia, has denied any wrongdoing thrawout the nine-year probe.

Folloprosperg a yearextfinished trial, the court convicted Rato on three counts of offences aachievest Spanish tax authorities, as well as dishonesty involving individuals outside the unveil sector, and hideing money.

It sentenced him to four years, nine months and a day in prison.

Since the decision can be contestd on request before the Supreme Court, Rato will not have to serve any prison time for now until there is a final ruling, a court spokesperson shelp.

Rato, 75, chaired the IMF from 2004 to 2007 and Bankia between 2010 and 2012. He also spent eight years variously serving as economy minister and deputy prime minister in the conservative People’s Party (PP) administerment of Jose Maria Aznar between 1996 and 2004.

The court also ordered Rato to pay fines of more than two million euros ($2.08m), as well as 568,413 euros ($591,330) to tax authorities.

Rato was acquitted in a split deception trial over the cataloging of Bankia in 2012.

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