Spanish court names suspects in Bankia case

Monday, 13. February 2017 19:58

Spain’s National Court said on Monday it is starting an investigation into the former chiefs of the Bank of Spain and the National Securities Market Commission (CNMV) who supervised Bankia’s initial public offering in 2011, as well as into other senior officials suspected to be implicated in the case. Miguel Angel Fernandez Ordonez, former head of the central bank, and Julio Segura, former president of CNMV, were named suspects today.  

The court ruling stated there was evidence pointing to the officials being aware of Bankia’s financial problems, but going ahead with the lender’s flotation on the Madrid Stock Exchange, causing millions of euros worth of losses to shareholders. Bankia’s government bailout forced Spain to seek financial aid from the European Union in 2012.

Bank of Spain announced that the three suspects, Mariano Herrera Garcia-Canturri, Pedro Comin Rodriguez, and Pedro Gonzalez Gonzalez, still employed there up until now, resigned upon learning of the court’s decision.

Image: EPA / KAI FORSTERLING

Related Links: Bankia S.A.
Author:
Breaking the News / JC