Along with 65 other former officers and members of Caja Madrid and of Bankia, Rato will sit on the bench of the accused to answer for a scandal of unjustified spending, known as the ‘cards ‘ black’.
To all attributed to them the crimes of unfair administration and misappropriation, for covering substantial personal expenses with credit cards available to discretion, without any to justify or declare anything to the tax office.
In February, the judge of the Audiencia Nacional (AN), Fernando Andreu, ordered the opening of oral proceedings for the case of ‘black’, recognizing that sufficient evidence of unfair administration on the part of the accused, with the purpose of appropriating, continuously and improperly heritage of Caja Madrid.
This entity was one of the seven that were merged in 2011 to give rise to Bankia, already presided by Time and in the following year received about 22 thousand million euros of public funds to deal with the financial hole that she had.
According to the indictment, the former managing director of the IMF (2004-2007) maintained in 2010 with ‘the corrupt system’ established by his predecessor to the front of Caja Madrid, Miguel Blesa.
subsequently recreated the same system in Bankia, an entity born of the merger of seven savings banks, including Caja Madrid, weakened by their exposure to the real estate bubble.
The events investigated took place between 2003 and 2012, according to the Criminal Chamber of the AN, a period in which certain managers and high-ranking officials of the mentioned entities intended for the payment of expenses own and of others an amount which exceeded 12 million euros.
On Rato and Blesa weigh petitions of imprisonment ranging from four and five years, respectively, claiming that the anti-Corruption Office, at six and 10 requested by Bankia, which exerts a particular charge.
The case of the cards ‘black’ is one of the three fronts open court against Time, together with an investigation in a court in madrid for alleged tax fraud and money laundering and another in the Hearing for an alleged fraud in the ipo of Bankia.
according To judge Andreu, inquiries revealed evidence that the ‘black’ were issued out of the circuit with an ordinary grant of cards of the entity and its use is not aimed at representation costs or related professional activities.
The ventilation of the disbursements allocated to each of the defendants (hotels, restaurants, travel, clothes and accessories) generated a wave of indignation in the Spanish subject from 2008 to a harsh policy of austerity with draconian cuts in social.
in Addition to IMF managing director, Rato was minister of Economy during the government of José María Aznar (1996-2004), the conservative Popular Party (PP).
From the political point of view, your case appears at a delicate time for the president of the Executive functions and leader of the PP, Mariano Rajoy, who since December seeking unsuccessfully to re-election, largely due to the corruption scandals that are shaking their grouping.
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