On December 20, 2024, Rodrigo Rato, former IMF director and Spanish politician, was sentenced to four years and nine months in prison by the Provincial Court of Madrid for corruption, tax fraud, and money laundering. Rato orchestrated a complex scheme using a network of interrelated companies to conceal substantial increases in his wealth from the Spanish Public Treasury. He evaded taxes by failing to declare income from consultancy fees earned through his companies and by underreporting his assets during his tenure as IMF director in 2006 and later in 2013 and 2014. The funds were funneled through shell companies and disguised to obscure their origins, allowing Rato to amass significant undisclosed wealth. Alongside the prison sentence, he was fined over €2 million.
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