January 16, 2021

The Supreme confirms four and a half years in prison for Rato for the «black»

The Supreme confirms four and a half years in prison for Rato for the «black»


The Sala II of the Supreme Court has confirmed 4 and a half years of prison for the former president of Bankia Rodrigo Rato for continued crime of misappropriation in the case of the 'black cards' of Caja Madrid. The court ratifies the main lines of the ruling issued by the National Court in this matter, and confirms the commission of the crime of misappropriation by 63 former directors and ex-members of the Board of Directors of the Savings Bank, who benefited from these cards whose operations were opaque to the Treasury.

The penalties vary for some of those convicted in estimating the Supreme Court that the attenuating compensation for damages applied to the defendants who consigned judicially the amounts they extracted with the card must be understood as very qualified and not simple, just as the National Court appreciated for those who they entered the money directly to the harmed ones (FROB or Bankia). The firm sentences dictated by the Supreme vary between the 4 months of prison and the 4 and a half years of Rodrigo Rato.

In the case of the ex-manager of Caja Madrid Ildefonso Sánchez Barcoj, the Chamber partially upholds its appeal and reduces from 2 years and 6 months to one year less one day in prison for a continued crime of misappropriation. The court understands that he must be convicted for a single continuing offense of misappropriation and not for two crimes (one as a necessary cooperator and another as an accomplice) for which he was sentenced by the Court. In addition, in your case, the court also applies the highly qualified mitigation of damages.

The sentence confirmed established as civil responsibility the return by the defendants of more than 12 million euros spent with the cards. Of these, 9.3 million were spent in the stage of Miguel Blesa as president of Caja Madrid and 2.6 million when the president of that entity or Bankia was Rato. Both were condemned to respond civilly in solidarity for the amounts spent during their terms, which was from January 2003 to January 2010, in the Blesa case, and from February 2010 to May 2012, in the case of Rato.

Rato will not be automatically imprisoned, as the Supreme Court must now remit the sentence order, after which the former managing director of the IMF will have a period of between 5 and 10 days to voluntarily enter the prison.

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