Economics

Former IMF Chief Rato Faces Spain Money Laundering Probe

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By Maria Tadeo, Esteban Duarte and Charles Penty

April 16, 2015 at 3:03 PM UTC

Updated on

April 17, 2015 at 6:16 AM UTC

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Rodrigo Rato, the former head of the International Monetary Fund and deputy prime minister of Spain, was detained by customs agents in Madrid on Thursday night as the tide of corruption allegations swamping the country’s political establishment reached a fresh high.

Rato, 66, is being investigated for possible money laundering after he took advantage of a 2012 tax amnesty to repatriate previously undeclared offshore funds, Justice Minister Rafael Catala said on Thursday.