MADRID (Reuters) – A Madrid courtroom has sentenced former Worldwide Financial Fund chief Rodrigo Rato to 4 years, 9 months and a day in jail for varied crimes associated to corruption, the courtroom stated in a press release on Friday.
Rato, who already spent two years in jail over a separate embezzlement case associated to his tenure as chairman of Spanish lender Bankia, has denied any wrongdoing all through the nine-year probe.
Following a year-long trial, the courtroom convicted Rato on three counts of offences in opposition to Spanish tax authorities, in addition to cash laundering and private-to-private corruption.
As the choice may be appealed earlier than the Supreme Court docket, Rato is not going to should serve any jail time for now till there’s a remaining ruling, a courtroom spokesperson stated.
Rato, who chaired the IMF from 2004 to 2007 and Bankia between 2010 and 2012, beforehand spent two years in jail after being convicted in 2018 over the misuse of Bankia bank cards to purchase jewels, holidays and costly garments.
