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Rato: one step from imprisonment
The man who was Deputy Prime Minister of Spain, Director of the IMF and CEO of one of the most important banks in the country, Caja Madrid/Bankia will have to go to prison for the fraudulent use of the same bank’s credit cards. Spain’s Supreme Court confirmed the sentence of four years and six months in prison yesterday imposed by the National Court for the scandal in February 2007. The Supreme Court ruled that Rodrigo Rato, as president of Bankia, “kept and consciously expand a perverted system from its origin,” which he inherited from his predecessor at the head of Caja Madrid, Miguel Blesa. A number of other board members also were involved in th scandal and were also sentenced yesterday.
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