Former IMF Chief Rodrigo Rato Sentenced to Nearly Five Years for Tax and Corruption Crimes

The Madrid court convicted Rato of tax fraud, money laundering, and corruption, marking his second prison sentence in connection with financial misconduct.

• Rodrigo Rato, ex-IMF chief and former Spanish economy minister, was sentenced to four years, nine months, and one day in prison for tax crimes, money laundering, and corruption.
• The court found Rato guilty of defrauding Spanish tax authorities of 8.5 million euros between 2005 and 2015, among other offenses.
• Rato was also fined over two million euros but can appeal the decision to the Spanish Supreme Court, delaying immediate imprisonment.
• This is Rato's second conviction; he previously served two years for misusing Bankia credit cards for personal expenses during his tenure as chairman of the bank.
• The Bankia scandal, which unfolded during Spain's economic crisis, remains a symbol of financial mismanagement, with the government later bailing out the bank for 22 billion euros.

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