Spanish former IMF chief Rodrigo Rato detained

 

Spanish politician Rodrigo Rato, a former head of the International Monetary Fund (IMF), has been detained on fraud and money-laundering charges, Spanish media report.

Mr Rato's Madrid home was also searched by tax authorities on Thursday.
He was released hours later without charge.
Mr Rato, 66, led the IMF between 2004 and 2007. Before that, he was a prominent member of Spain's Popular Party (PP).

He was Spain's finance minister in the conservative government of Prime Minister Jose Maria Aznar and later a leading figure under Mr Aznar's successor Mariano Rajoy.
He is already under investigation over his time as president of Spanish lender Bankia, which was bailed out in 2012.
Prosecutors allege that company executives misled regulators about the bank's finances. Mr Rato denies any wrongdoing.
Bankia bosses including Mr Rato were also accused of widespread misuse of company credit cards under his leadership.
Mr Rato became director of Bankia in 2010, but resigned two years later amid concerns over the bank's ability to stay afloat.