Spain's 15m celebrates as head of Bankia faces criminal charges

Rodrigo Rato, former head of Bankia and former IMF chief is facing criminal fraud accusations related to the downfall of Bankia.

Rodrigo Rato was a member of the ruling party, PP (Partido Popular) in Spain, he was also formerly chief of the International Monetary Fund (IMF), and finally he was head of Bankia, a banking giant which is at the center of Spain's economic catastrophe.

Now members of the 15m movement are celebrating a major victory, as the country's high court opens a fraud case against the former head of Spain's largest mortgage lender, Bankia. The bank is currently seeking as much as 23.5 billion euros ($29 billion) in bail-out money.... read more and watch video.