|Rato in happier days.|
Former International Monetary Fund chief Rodrigo Rato was handed a jail sentence of four years and six months for misusing funds when he was the boss of two Spanish banks, reports Busines Live.
Spain’s National Court, which deals with corruption and financial crime cases, said he had been found guilty of embezzlement when he headed up Caja Madrid and Bankia,
Rato, who is also a former Spanish economy minister, remains at liberty pending a possible appeal.
|Rato after sentencing.|
Rato was economy minister and deputy prime minister in the conservative government of Jose Maria Aznar from 1996 to 2004, before going on to head up the IMF until 2007.
He received an MBA from the University of California, Berkeley, Haas School of Business, in 1974 and is listed by the Univerity as a Haas Hall of Fame grad.