IMF Ex- boss set to be tried for fraud

Former IMF head Rodrigo Rato will go on trial for fraud over the failed 2011 listing of Bankia, a bank he led which later had to be rescued by the state, a Spanish court said Friday.

Rato, a former Spanish economy minister, is accused along with three other executives of falsifying information about Bankia’s financial state to encourage investors to buy into its stock market listing in 2011.

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World Bank/IMF

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