Rodrigo Rato, head of Bankia & ex-Minister of Economy, arrested for tax fraud

Rodrigo Rato, Spain’s senior banker, the man accused of hiding billions of euros in losses to inflate the shares of the state owned bank Bankia, ex head of the International Monetary Fund (2004-2007), Spain’s international banking expert and who used to be Minister of the Economy & Vice President under Aznar, was arrested today for grand fraud, money laundering and tax evasion. The arrest is a massive slap in the face for the PP party. Continue reading Rodrigo Rato, head of Bankia & ex-Minister of Economy, arrested for tax fraud

Bankia bank floatation was a complete fraud admits Bank of Spain

The Bank of Spain has completed a report into the stock market launch of nationalised bank Bankia, and concluded that it was a complete fraud organised by Rodrigo Rato, the President of the bank at the launch, and carried on by his successor Goirigolzarri. Bankia is a nationalised bank that was formed from the corpses of several failed banks that went under during the recession. Spain forcibly merged them into one super bank and then Continue reading Bankia bank floatation was a complete fraud admits Bank of Spain