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Former IMF Chief Rodrigo Rato Sentenced for Corruption
Sentence and Charges
Rodrigo Rato, former chief of the International Monetary Fund (IMF), has been sentenced to four years, nine months, and one day in prison by a Madrid court. He was convicted on three charges: tax offences, corruption involving private individuals, and money laundering.
Appeal and Delay in Imprisonment
Rato has maintained his innocence throughout a nine-year investigation and called the ruling “unfair.” He plans to appeal the decision to Spain’s Supreme Court. As a result, he will not serve time until a final ruling is made.
Previous Conviction and Fines
Rato had previously served two years in prison following a 2017 conviction for misusing Bankia credit cards for personal expenses. In addition to his new prison sentence, he has been ordered to pay over €2 million in fines and €568,413 to tax authorities.
Legal and Prosecutorial Context
The prosecution had initially sought a 63-year sentence for 11 charges against Rato. His legal team argued that a 2015 raid on his home violated his rights, rendering the evidence inadmissible, but the court rejected this argument.
Career Background
Rato served as Spain’s deputy prime minister from 1996 to 2004, IMF chief from 2004 to 2007, and chairman of Bankia from 2010 to 2012. He was previously acquitted in a separate fraud case related to Bankia’s stock market listing in 2012.