Spain: Protesters jeer ex-IMF boss as bank card trial starts
Posted September 26, 2016 7:00 am
MADRID (AP) - Protesters shouted insults at Rodrigo Rato, the former head of the International Monetary Fund, as he and 64 others entered court for a trial over the alleged misuse of corporate credit cards at a Spanish bank.
Prosecutors are seeking a 4 ˆ½ year jail term for Rato, 67, who headed Bankia group between 2010 and 2012.
The court says investigations indicate there was fraudulent administration and misappropriation of bank funds by the accused in the use of the "opaque" credit cards for irregular and undeclared expenses between 2003 and 2012.
The trial started Monday but questioning of the accused will begin Friday.
Rato was IMF chief from 2004 to 2007 and a leading figure in Spain's acting ruling Popular Party from 1996 to 2004.
Former Finance Minister and International Monetary Fund chief Rodrigo Rato arrives at the National Court in Madrid, Monday, Sept. 17, 2016. Rodrigo Rato, and 65 officials at Bankia SA and its founding savings bank Caja Madrid, face trial for alleged misuse of corporate credit cards issued by Spain's Bankia group and its predecessor savings bank, Caja Madrid between 2003 and 2012. (AP Photo)
The Associated Press
Former Finance Minister and International Monetary Fund chief Rodrigo Rato arrives at the National Court in Madrid, Monday, Sept. 26, 2016. Rodrigo Rato, and 65 officials at Bankia SA and its founding savings bank Caja Madrid, face trial for alleged misuse of corporate credit cards issued by Spain's Bankia group and its predecessor savings bank, Caja Madrid between 2003 and 2012. (AP Photo)
The Associated Press
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.