Spanish ex-IMF boss Rodrigo Rato given four and a half years over credit card scandal

LAST UPDATED: 24 Feb, 2017 @ 10:44
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rodrigo_rato_rt-8_01FORMER IMF chief Rodrigo Rato has been convicted of misappropriation of funds.

Rato, who headed the International Monetary Fund (IMF) from 2004 to 2007, has been sentenced to four and a half years.

The former Partido Popular finance minister and an ex-chairman of Caja Madrid is one of 65 officials found guilty over their use of complimentary credit cards.

Between 1999 and 2012, high-ranking officials at Caja Madrid (which later merged to form Bankia) were given credit cards that drew from a bank fund.

The cards were used to splash €15.5 million on personal expenses, which did not show up on bank documents, job contracts or tax returns.

 

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  1. “Rodrigo Rato given four and a half years” yet he did not go to jail. How can someone be sentenced to four and half years in prison, then walk free? Spanish justice in a nutshell.

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