Finance
Ex-IMF chief Rato sentenced to 4 years, 9 months in prison over corruption case
Published by Global Banking & Finance Review®
Posted on December 20, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
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Published by Global Banking & Finance Review®
Posted on December 20, 2024
1 min readLast updated: January 27, 2026
Rodrigo Rato, ex-IMF chief, sentenced to over 4 years for corruption and tax offences. He denies wrongdoing and plans to appeal.
MADRID (Reuters) - A Madrid court has sentenced former International Monetary Fund chief Rodrigo Rato to four years, nine months and a day in prison for various crimes related to corruption, the court said in a statement on Friday.
Rato, who already spent two years in prison over a separate embezzlement case related to his tenure as chairman of Spanish lender Bankia, has denied any wrongdoing throughout the nine-year probe.
Following a year-long trial, the court convicted Rato on three counts of offences against Spanish tax authorities, as well as money laundering and private-to-private corruption.
As the decision can be appealed before the Supreme Court, Rato will not have to serve any prison time for now until there is a final ruling, a court spokesperson said.
Rato, who chaired the IMF from 2004 to 2007 and Bankia between 2010 and 2012, previously spent two years in prison after being convicted in 2018 over the misuse of Bankia credit cards to buy jewels, holidays and expensive clothes.
(Reporting by Jesús Aguado; Editing by David Latona)
The article discusses the sentencing of former IMF chief Rodrigo Rato for corruption and tax offences.
Rodrigo Rato is a former chief of the International Monetary Fund and ex-chairman of Bankia.
Rato was convicted of offences against tax authorities, money laundering, and private-to-private corruption.
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