Rodrigo Rato, former head of Bankia and former IMF chief is facing criminal fraud accusations related to the downfall of Bankia.
Rodrigo Rato was a member of the ruling party, PP (Partido Popular) in Spain, he was also formerly chief of the International Monetary Fund (IMF), and finally he was head of Bankia, a banking giant which is at the center of Spain’s economic catastrophe. Now members of the 15m movement are celebrating a major victory, as the country’s high court opens a fraud case against the former head of Spain’s largest mortgage lender, Bankia. The bank is currently seeking as much as 23.5 billion euros ($29 billion) in bail-out money…. read more and watch video.