In this April 20, 2015 file photo, Spain's former Finance Minister and International Monetary Fund chief Rodrigo Rato arrives at his apartment in Madrid, Spain. (AP Photo/Andres Kudacki, File)
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Rodrigo Rato, a former chief of the International Monetary Fund (IMF), is to stand trial for misusing funds when he was head of a bailed-out Spanish bank, a court in Madrid said Monday.One time Spanish finance minister Rato is one of 66 accused in a scandal that allegedly saw executives and board members at Caja Madrid and Bankia – the group whose near-collapse sparked an EU bailout of Spain's financial sector – spend around 12 million euros ($13 million) on themselves between 2003 and 2012, with some media reports putting the total figure above 15 million euros.Rato is accused of racking up more than 99,000 euros ($108,000) on his account.Rato could face as much as ten years in jail if found guilty.
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