Ex-IMF boss on trial over luxury spree
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.
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.