IMF and World Bank director with lavish lifestyle

In December 1990 The Wall Street Journal published a long front-page story about Jacques de Groote, a “suave and erudite” 63-year-old Belgian economist who was one of the most senior of the 22 executive directors of both the World Bank and the International Monetary Fund in Washington DC.

It reported that he “lives in a style that suggests substantial wealth … he has long been something of a bon vivant, with a taste for the finest in clothes, restaurants and residences. He has a $1 million townhouse in the Georgetown section of Washington, a $2 million working farm in Italy and a $1 million apartment in Brussels.”

It quoted a friend saying: “De Groote is an eccentric … He will go to a shop and

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