Ex-IMF boss on trial over lux­ury spree

The Myanmar Times - - World -

For­mer IMF chief Ro­drigo Rato went on trial ac­cused of over­see­ing a “cor­rupt sys­tem” that helped him and other ex­ec­u­tives mis­use mil­lions when he was the boss of a ma­jor Span­ish bank. Pro­test­ers shouted “thief” and “fraud” at the for­mer econ­omy min­is­ter and ex-deputy prime min­is­ter as he ar­rived at the court­house out­side Madrid. Mr Rato is stand­ing trial with 64 other for­mer ex­ec­u­tives and board mem­bers at Caja Madrid and Bankia, whose near-col­lapse sparked an EU bailout of Spain’s fi­nan­cial sec­tor in 2014.

Photo: AFP

For­mer IMF chief Ro­drigo Rato (cen­tre) and for­mer pres­i­dent of Caja Madrid Miguel Blesa sit in the dock dur­ing the first day of their trial over lux­ury sprees at the High Court in San Fer­nando de Henares, Spain, on Septem­ber 26.

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