Former IMF head Rodrigo Rato acquitted over Bankia IPO
More than 300,000 retail shareholders lost their investments in Bankia
29 September 2020 - 19:57
Madrid — Former International Monetary Fund (IMF) boss Rodrigo Rato was acquitted on Tuesday in a fraud trial over the listing of Bankia, when he was its chair, prompting calls for legal changes from consumer groups.
Rato, who resigned from the Spanish bank in May 2012 and has always denied any wrongdoing, is serving a four-and-a-half year sentence after being found guilty of embezzlement in a separate trial over the misuse of Bankia credit cards...
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