Arab Today, arab today spanish authorities search eximf chief ratos office for second day
Last Updated : GMT 01:44:06
Arab Today, arab today
Arab Today, arab today

Spanish authorities search ex-IMF chief Rato's office for second day

Arab Today, arab today

Arab Today, arab today Spanish authorities search ex-IMF chief Rato's office for second day

Former IMF chief Rodrigo Rato is flanked by police as he leaves his office
Madrid - AFP

Spanish tax authorities carried out new searches of former IMF chief Rodrigo Rato's Madrid offices in a money-laundering probe as the country questioned whether he had been made a scapegoat in the ruling Popular Party's anti-corruption drive.

Rato is already being investigated for alleged fraud during his time as chief executive at Bankia, a Spanish bank which needed to be bailed out by the government.

The 66-year-old told El Pais newspaper that he was "actively cooperating with investigators" in the new investigation.

Spain's state prosecutor ordered the searches as part of a probe into suspected money laundering, fraud and asset-stripping, a source close to the investigation told AFP.

The judge in charge of the investigation also ordered Rato's bank accounts be frozen Friday, a judicial source said.

Spanish media reported the investigation could be linked to an alleged payment of 6.2 million euros ($6.6 million) which investment bank Lazard made to Rato in 2011, several years after he worked for the bank as an adviser.

On Thursday, police escorted Rato out of his apartment building in an upscale neighbourhood in central Madrid after searching his flat for nearly four hours. His offices were also searched.

Rato, who headed the IMF between 2004 and 2007, is a former senior member of Spain's conservative Popular Party (PP) and also served as finance minister in prime minister Jose Maria Aznar's government.

Many in Spain were asking Friday whether Rato was being singled out by current Prime Minister Mariano Rajoy, who has been criticised for failing to crack down on corruption.

Opinion polls show the PP is losing support ahead of regional elections on May 24, with general elections looming before the end of the year.

Political analyst Anton Losada said: "The PP has noticed that corruption is causing it more trouble than it thought... and in Rato it sees an unmissable opportunity.

"He has already been burned and they have decided to make an example of him."

Rato has already been questioned on suspicion of fraud in an ongoing probe into the stock market launch of Bankia.

He is suspected of misrepresenting Bankia's accounts ahead of its doomed stock market listing and has been charged with fraud, embezzlement and forgery.

Rato has also been questioned in court as part of another probe into alleged spending sprees on company credit cards by him and other ex-managers of Bankia. He has denied wrongdoing in both cases.

Bankia nearly collapsed in 2012 and had to be bailed out by the Spanish government to the tune of 24 billion euros.

Spain later received 41 billion euros from international creditors to protect its entire banking sector from collapse, though it avoided having to seek a full sovereign bailout like Greece.

Thousands of customers have brought separate lawsuits against the Bankia group, saying they lost their money after being misled into converting their savings into the bank's shares.

arabstoday
arabstoday

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 spanish authorities search eximf chief ratos office for second day Arab Today, arab today spanish authorities search eximf chief ratos office for second day

 



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 spanish authorities search eximf chief ratos office for second day Arab Today, arab today spanish authorities search eximf chief ratos office for second day

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
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