Rato held the position of head of the IMF from 2004 to 2007.
A former Director of the International monetary Fund Rodrigo de Rato on 25 October arrived in the Spanish prison of Soto El real in Madrid province to serve his sentence in the form of 4,5 years of imprisonment.
Rato held the position of head of the IMF from 2004 to 2007, and prior to that was Minister of economy and Deputy Prime Minister of the country.
The criminal case against him is connected with the activity at the head of the largest savings Bank Bankia. Rato was convicted of misuse of funds it has spent for own needs of 100 thousand euros.
Prison sentences for the same charges received a further 14 managers of the Bank. All involved more than 60 employees of the institution. The audit found that the misuse of funds resulted in losses for the Bank in the amount of 12 million euros.
The sentence eks-the head of the IMF issued in February 2017. He appealed to the Spanish Supreme court, but the court left the sentence unchanged. Rato was supposed to be in jail for the rest of October 25.
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