Rodrigo Rato discovered responsible of a number of offences together with corruption and cash laundering.
A Madrid court docket has sentenced former Worldwide Financial Fund (IMF) chief Rodrigo Rato to greater than 4 years in jail for tax crimes, cash laundering and corruption.
Judges discovered Rato responsible of “three offences towards the Treasury, one offence of cash laundering and one offence of corruption between people”, the court docket stated in an announcement on Friday.
Rato, who had already spent two years in jail over a separate embezzlement case throughout his tenure as chairman of Spanish lender Bankia, has denied any wrongdoing all through the nine-year probe.
Following a yearlong trial, the court docket convicted Rato on three counts of offences towards Spanish tax authorities, in addition to corruption involving people exterior the general public sector, and cash laundering.
It sentenced him to 4 years, 9 months and a day in jail.
For the reason that choice might be challenged on enchantment earlier than the Supreme Courtroom, Rato is not going to should serve any jail time for now till there’s a remaining ruling, a court docket spokesperson stated.
Rato, 75, chaired the IMF from 2004 to 2007 and Bankia between 2010 and 2012. He additionally spent eight years variously serving as economic system minister and deputy prime minister within the conservative Folks’s Social gathering (PP) authorities of Jose Maria Aznar between 1996 and 2004.
The court docket additionally ordered Rato to pay fines of greater than two million euros ($2.08m), in addition to 568,413 euros ($591,330) to tax authorities.
Rato was acquitted in a separate fraud trial over the itemizing of Bankia in 2012.
