WED AM JAN 09
Major Trial
Rodrigo Rato blamed the Bank of Spain for mishandling the creation of Bankia yesterday at a trial in which the former International Monetary Fund chief and three other ex- board members of the Bank are accused of fraud.
Rato, who denies any wrongdoing, was Bankia’s chairman at the time of a merger of seven unlisted regional banks to form Bankia in 2010 and its ill-fated 2011 initial public offering.
Less than a year after the 3.1-billion-euro Listing Bankia reported a 3 billion euro loss, prompting a 22.5 billion euro state bailout and its nationalisation.… Read all the news