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Spain Supreme court jails former IMF chief Rato for 4.5 years

Spain Supreme court jails former IMF chief Rato for 4.5 years

Madrid: Spain's Supreme Court on Wednesday confirmed former IMF chief Rodrigo Rato's jail sentence of four years and six months for misusing funds, which is expected to see him enter prison soon.

In February 2017, Rato was found guilty by another court of paying for personal expenses with credit cards put at his disposal when he was the boss of Caja Madrid and Bankia, but had since then been free on bail pending an appeal.

About €12m (£10.1m; $12.7m) was spent from Caja Madrid and Bankia in 2003-12. Rato, 67, had denied any wrongdoing. During the trial, Rato argued that the corporate credit cards were part of his pay package.

Agencies

Agencies

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