IMF Veteran Rodrigo Rato Faces Up to 63 Years in Prison for Tax Crimes, Money Laundering and Corruption.

Rodrigo Rato, the former managing director of the IMF and vice president of the Government with José María Aznar, is facing 63 years in prison and a fine of 42 million euros in an ongoing trial against him for tax crimes, money laundering, and corruption. The Prosecutor’s Office has accused Rato of using a complex business structure with multiple bank accounts in different countries to hide money and financial assets from Spanish authorities. They also allege that he charged illegal commissions for awarding advertising contracts during his time as president of Caja Madrid and Bankia. The trial against Rato is in its final phase, with the accused presenting their final reports before a verdict is reached. Additionally, 12 other individuals and three legal entities are facing charges related to the case.