spanish authorities search eximf chief ratos office for second day
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

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

Egypt Today, egypt today

Egypt Today, egypt 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.

egypttoday
egypttoday

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*

spanish authorities search eximf chief ratos office for second day spanish authorities search eximf chief ratos office for second day



GMT 06:23 2019 Tuesday ,20 August

You find yourself facing new professional

GMT 12:51 2016 Wednesday ,06 April

Spain summons French ambassador over truck attacks

GMT 19:29 2012 Tuesday ,20 March

Kevin Smith on leaving filmmaking

GMT 14:16 2012 Thursday ,09 August

Two lessons from the heinous crime in Sinai

GMT 21:52 2011 Monday ,25 April

Warhol self-portrait expected to fetch $40 mln

GMT 08:23 2016 Tuesday ,10 May

Hanks Returns As Symbologist In Inferno Trailer

GMT 12:59 2017 Tuesday ,31 January

Japan 'space junk' collector in trouble

GMT 08:58 2016 Thursday ,01 December

Farmers, their little pigs and wolves

GMT 17:53 2015 Thursday ,16 April

Extremely rare pink diamond set for Geneva auction

GMT 14:12 2015 Wednesday ,03 June

The pitiful ideology of suicide bombers

GMT 06:33 2015 Saturday ,31 January

The king of reforms

GMT 08:45 2011 Sunday ,12 June

Filipino declared world\'s shortest man
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday