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BREAKING: Ex-IMF head to be tried for banking fraud

Former IMF head Rodrigo Rato will go on trial for fraud over the failed 2011 listing of Bankia, a bank he led which later had to be rescued by the state, a Spanish court said Friday.

Rato, a former Spanish economy minister, is accused along with three other executives of falsifying information about Bankia’s financial state to encourage investors to buy into its stock market listing in 2011.

Details later

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