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A Spanish judge on Thursday, October 16, ordered ex-IMF head Rodrigo Rato to pay a 3-million-euro bond as a court probes allegations that former bank bosses spent millions on nightclubs, safaris and other treats using company credit cards. Rato and more than 80 others face possible charges of corporate crimes over allegations that they spent a total of 15 million euros with secret company credit cards when they worked at Caja Madrid and the Bankia group. In a closed-door hearing, judge Fernando Andreu ordered Rato to pay a three-million-euro ($3.8 million) bail within 3 days or have his assets frozen, a judicial source said.
Read the full story on Rappler.
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