Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
MADRID (AP) — Protesters shouted insults at Rodrigo Rato, the former head of the International Monetary Fund, as he and 64 others entered court for a trial over the alleged misuse of corporate credit cards at a Spanish bank.
Prosecutors are seeking a 4 ½ year jail term for Rato, 67, who headed Bankia group between 2010 and 2012.
The court says investigations indicate there was fraudulent administration and misappropriation of bank funds by the accused in the use of the "opaque" credit cards for irregular and undeclared expenses between 2003 and 2012.
The trial started Monday but questioning of the accused will begin Friday.
Rato was IMF chief from 2004 to 2007 and a leading figure in Spain's acting ruling Popular Party from 1996 to 2004.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.