Rodrigo Rato, the former managing director of the IMF and vice president of the Government with José María Aznar, is currently facing a potential 63-year prison sentence and a fine of 42 million euros in an anti-corruption case heard in Madrid. The prosecutor’s office has accused Rato of tax crimes, money laundering, and corruption between individuals during his time as head of Caja Madrid and Bankia.
The trial against Rato is in its final phase, with both the accused and other defendants presenting their final reports before a verdict is reached. The prosecutor’s office also accuses 12 other individuals and three legal entities in connection with the case. Domingo Plazas, Rato’s alleged tax advisor, and other close associates are also facing charges related to tax crimes, money laundering, and corruption.
The court has emphasized that Rato used a complex business structure with multiple bank accounts in different countries to hide a large amount of money and financial assets. He is also accused of charging illegal commissions for awarding advertising contracts during his tenure as president of Caja Madrid and Bankia. If convicted on all charges, Rato could face up to 63 years in prison and pay a fine equivalent to €42 million euros.
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