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Former IMF chief Rodrigo Rato sentenced in Spain

Feb 27, 2017

Move over, Iceland! Spain has just followed your example.


Former International Monetary Fund chief Rodrigo Rato was sentenced to 4-1/2 years in prison by Spain's High Court on Thursday following a scandal over the widespread misuse of company credit cards during his tenure at lender Bankia.

Rato, who was economy minister in Spain and a prominent figure in the ruling People's Party (PP) before moving to the IMF, chaired Bankia for two years until just before its state bailout in 2012.

He had been on trial along with 64 other executives and former board members of Bankia and its founding savings bank Caja Madrid….

Last week, a Spanish court found the king's brother-in-law guilty of using royal connections to overcharge regional governments through public contracts.

Rato and ex-Caja Madrid Chairman Miguel Blesa, who was sentenced to six years in jail, were convicted of misappropriating funds, the court said in a written ruling….

Before chairing the Washington-based IMF between 2004 and 2007, Rato was deputy prime minister in the conservative PP's government in 1996.

The Babylonian leaders are now answering for their crimes. Such a sentence would never happen if Babylon was fully in control of the situation. This is evidence that they are being overthrown by superior powers.

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Category: In The News
Blog Author: Dr. Stephen Jones