Rodrigo Rato, the former Managing Director of the International Monetary Fund (IMF) and Spain’s ex-Economy Minister, has been sentenced to more than four years in prison by a Madrid court for multiple financial crimes.
The court found Rato guilty of three counts of tax cheating, one count of money laundering, and one count of corruption between individuals.
This sentencing was announced in a statement from the court on Friday, showing an important step in Spain’s efforts to fight against high-level corruption.
Rodrigo Rato was the chief of the IMF from 2004 to 2007. After that, he held a prominent position in Spanish politics and business. However, his career has been affected by many accusations and convictions related to financial misconduct.
