Former IMF boss has passport revoked

Former IMF head Rodrigo Rato has had his passport revoked. Photo: Jason Reed

Former IMF head Rodrigo Rato has had his passport revoked. Photo: Jason Reed

Published Oct 6, 2015

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Madrid - A former head of the International Monetary Fund (IMF), Rodrigo Rato, has had his passport revoked, a judge investigating charges of money laundering and fraud said Tuesday.

Rato, who was Spain's finance minister from 1996 to 2004 and IMF boss from 2004 to 2007, is also required to report to a Madrid court once a month, judge Antonio Serrano-Arnal said following questioning in Madrid.

Authorities suspect that the 66-year-old may have woven a complex web of companies, some of them headquartered in tax havens, as he sought to take advantage of his position as president of Spanish bank Bankia from 2010-12.

Investigators are looking into alleged irregular stock exchange results for the bank and the use of company credit cards for personal spending.

Rato is at the centre of two further corruption cases currently being ivestigated in Spain.

DPA

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