A Spanish court on Friday ordered former IMF head Rodrigo Rato to stand trial for fraud over the failed 2011 listing of Bankia, a bank he led which later needed rescuing by the state.
Former IMF chief Rodrigo Rato was handed a jail sentence of four years and six months Thursday for misusing funds when he was the boss of two Spanish banks.
Rato, a former chief of the International Monetary Fund (IMF), is to stand trial for misusing funds when he was head of a bailed-out Spanish bank, a court in Madrid said on Monday.
Rodrigo Rato, the ex-head of the International Monetary Fund has been summoned by a judge for questioning over alleged money-laundering, the latest in a string of court cases targeting him.
Spanish tax office agents on Thursday searched the Madrid home of former IMF head Rodrigo Rato, who has already been charged in two graft cases, as part of a new money-laundering probe.
A Spanish judge on Wednesday formally named as suspects 78 executives at two major banks accused of using "phantom" credit cards to make personal purchases which were never declared to the tax office.
A Madrid court on Wednesday summoned 17 suspects including five mayors and a French energy executive for questioning in a corruption scandal that has rocked the Spain government, while there were also heated exchanges in the national parliament.
Spanish Prime Minister Mariano Rajoy on Tuesday begged for forgiveness on behalf of the country's ruling Popular Party a day after police arrested several party members in anti-corruption raids.
A dozen chauffeurs working for two major Spanish banks were issued company credit cards so that drivers could make luxury purchases on the behalf of top executives, a Spanish newspaper reported on Monday, part of a scandal which has rocked Spain.
A Spanish judge on Thursday ordered ex-Caja Madrid head Rodrigo Rato to pay a €3-million ($3.8-million) bond as a court probes allegations that former bank bosses spent millions on nightclubs, safaris and other treats using company credit cards.
Former International Monetary Fund boss Rodrigo Rato and the ex-President of failed Spanish lender Caja Madrid Miguel Blesa are to face questions in court as part of a probe into alleged credit card fraud by top bank executives.
Allegations that former heads of bailed-out Spanish lender Bankia, including ex-IMF head Rodrigo Rato, spent extravagantly on personal leisure with company credit cards, triggered resignations and red-faced apologies on Friday.
The former head of the International Monetary Fund Rodrigo Rato is one of 86 top executives at Spain's Caja Madrid and Bankia banks accused of using company credit cards to buy over millions of euros worth of luxury items for personal use.
