Former IMF managing director Rodrigo Rato, center, arrives at the National Court in Madrid, Spain, to answer questions over his stewardship of Spanish bank, Bankia. Former International Monetary Fund chief Rodrigo Rato was detained by police Thursday night April 16, 2015, according to media reports, after tax officials spent hours searching his apartment.

Former IMF Chief Under Investigation For Money Laundering, Now Arrested

Rato’s dealings include misappropriation of funds through a Visa card totaling 6 Million Euro, income from serving on the international advisory board of a Turkish bank in violation of Spanish banking laws, and a series of shell corporation divestments.