Home of ex-IMF head Rato searched in tax investigation
Reuters
Published Apr 16, 2015 02:52PM ET
Updated Apr 16, 2015 03:02PM ET
Home of ex-IMF head Rato searched in tax investigation
MADRID (Reuters) - Spanish judges ordered a search of the Madrid home of former International Monetary Fund chief Rodrigo Rato as part of an investigation into tax paid on his personal wealth, a court statement said on Thursday.
Spain's state prosecutor had requested the search of Rato's home as part of an investigation involving the former IMF managing director and "other people", according to the brief court statement in which further details were not provided.
Two official sources separately confirmed that a search at his home had focused on details of Rato's personal wealth.
Rato's lawyers, Oliva-Ayala, confirmed they represent him but could not immediately comment, while several calls and an email sent seeking comment to someone who has acted on his behalf in the past were not returned.
Rato is a former Spanish economy minister who was long a leading light of Prime Minister Mariano Rajoy's center-right Popular Party (PP) but is now implicated in two separate judicial cases.
Magistrates are investigating the alleged widespread misuse of company credit cards for personal expenses during Rato's tenure as chairman of bailed-out Bankia.
Rato is also one of several former managers under investigation for fraud as courts separately decide whether Bankia's 2011 stock market flotation was flawed. He denies wrongdoing.
Thursday's news comes ahead of regional and local elections next month and a general election toward year-end in which the PP is expected to suffer heavy losses because of the implication of big party names in graft probes in recent years.
Opinion polls consistently show Spanish voters are concerned about corruption, and discontent with the political class has fostered the rise of two new parties, Podemos and Ciudadanos, which are predicted to win significant voter support this year.
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Written By: Reuters
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