Rodrigo Rato Sentenced for Corruption Crimes

Former International Monetary Fund chief Rodrigo Rato has been sentenced by a Madrid court to four years, nine months, and one day in prison for tax crimes, money laundering, and corruption. The court found him guilty of multiple offences against Spanish tax authorities and private sector corruption following a year-long trial. Rato, who has denied wrongdoing, previously served two years for a separate embezzlement case linked to his role at Bankia. His recent conviction comes after a nine-year investigation, with prosecutors initially seeking a 63-year sentence for 11 charges. Rato's sentence can be appealed to the Supreme Court, allowing him to remain free pending the final decision. Additionally, he has been ordered to pay over two million euros in fines and restitution to tax authorities.