Former IMF Chief Rodrigo Rato Faces 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 a potential 63 years in prison and a fine of 42.44 million euros for tax crimes, money laundering, and corruption. The Anti-Corruption Prosecutor’s Office has made these accusations against Rato during an oral hearing in Madrid. The public ministry alleges that Rato engaged in underhanded management of companies to evade taxes both in Spain and abroad since 1999 until 2015.

The trial against Rodrigo Rato is in its final phase, with the accused and other defendants presenting their final reports before the court. 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 facing charges related to tax crimes, money laundering, and corruption.

According to the prosecution, Rato used a complex business structure with multiple bank accounts in different countries to hide a large amount of money and financial assets. They also accuse him of charging illegal commissions for awarding advertising contracts during his time as president of Caja Madrid and Bankia.

The trial will resume on May 6, with the defense presenting their final arguments before a verdict is reached. If convicted, Rodrigo Rato will face up to 63 years in prison for his actions during his time as managing director of the IMF and vice president of the Government with José María Aznar.