Arab Today, arab today spain court prosecutes eximf head rato
Last Updated : GMT 16:15:50
Arab Today, arab today
Arab Today, arab today

Spain court prosecutes ex-IMF head Rato

Arab Today, arab today

Arab Today, arab today Spain court prosecutes ex-IMF head Rato

Madrid - AFP

A Spanish court Wednesday brought charges against Rodrigo Rato, former head of the International Monetary Fund, over alleged corruption in the spectacular failure of Spanish lender Bankia. Spain\'s top National Court launched proceedings in a lawsuit brought against Rato for alleged fraud in his role as chairman of Bankia, from which he resigned in May just before the lender was bailed out, court documents showed. The 23.5 billion euro ($29.5 billion) bailout announced by the Spanish government for the lender on May 9 marked a new phase in Spain\'s banking crisis, driving it to seek eurozone rescue funds for its finance sector. The court accepted a suit brought by UPyD, a centrist opposition political party, targeting Rato and 32 other senior members of the bank as well as its mother company BFA. Court papers seen by AFP listed the charges of crimes including fraud, embezzlement, falsifying accounts and price manipulation. No date was set for hearings in the case. Anti-corruption judges had already opened a preliminary investigation into alleged fraud relating to Bankia\'s founding and stock listing, which took place in 2010. The entity was created by merging seven regional savings banks. Rato is one of the most prominent financial figures in Spain, having served as economy minister from 1996 to 2004 and then as managing director of the IMF until 2007. Trying to stamp out fears of a general banking collapse, Spain\'s conservative government nationalised Bankia, formerly its fourth-largest listed bank, taking a 45-percent stake by converting loans into shares. On June 9, the eurozone agreed to extend a credit line of up to 100 billion euros to stabilise Spain\'s banks, amid fears for the country\'s financial health, gravely weakened by the collapse of a property boom in 2008. Eurozone finance ministers are due to discuss exactly how much of this amount Spain will borrow at a meeting on July 9. The lawsuit by UPyD was one of four cases brought by diverse bodies including the far-right organisation Manos Limpias and two social protest groups, Democracia Real Ya and a movement popularly known as the \"indignants\".

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain court prosecutes eximf head rato Arab Today, arab today spain court prosecutes eximf head rato

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday