Wednesday, October 1, 2014

Directors of Caja Madrid used ‘cards B’ for their spending … – The World

Directors of Caja Madrid used 'cards B' for their spending … – The World

The secretaries of Ildefonso Sánchez Barcoj , former CFO Caja Madrid and Bankia , took notes by hand and the card department the remainder was. A report from the Anti-Corruption Prosecutor to judge investigating the ‘case Bankia’ uncovers that 86 people, including directors and officers of the box and Bankia, spent 15.2 million euros in 10 Years -between 2003 and 2012 through the alleged use of credit cards and an undeclared account number Caja Madrid where settlement amounts were recorded manually by the accounting department. Restaurants, travel, food, clothing and hotels were the destination of these funds.

In eight years, the former president of Caja Madrid, Miguel Blesa turnover of 436,700 euros with these “additional cards” , as he christened the report submitted to the judge, who reveals the existence of an account B that the entity made available ‘determined’ directors and officers for various expenses derivatives activities the box.

Furthermore, there was 28 counselors who continued to use the cards cited after leaving office , making movements even eight months after the cessation. The worst is that 15 such advisers bill came to € 3.8 million in just one month , coinciding with the time before the nationalization of Bankia. Specifically, between 26 di cember 2011 and January 26, 2012

In total, those involved came to spend more than three million euros in restaurants from 2003 to 2012 in cash, They took around two million, and travel more than 1.5 million billed as the newspaper Expansion reported yesterday.

The alleged plot came to light after the internal auditor team chaired José Ignacio Goirigolzarri detect credit cards issued outside the regular circuit bench. Such cards belonged to members of the board and the supervisory board of Caja Madrid and Bankia, as well as managers of the box. The auditor’s report places on record that Sanchez was the person Barcoj managed “separately” to all the business cards .

Furthermore, warns that communications on the granting of new cards or dollar limits changes associated with the same managed the Barcoj Sánchez own secretaries. Goirigolzarri ceased to CFO Bankia when he took over the banking group in May 2012, the date on which the said cards are also canceled.

A total of 20 people continued to benefit from this money B after birth of Bankia, under the presidency of Rodrigo Rato -the entity quantified expenses of 47,700 euros -. Indeed, the former economy minister was one of those who used such cards, spending 54,830 euros while president . In 2010, a turnover of 44,200 euros as a member of the Board of Directors of Caja Madrid. Following the report of the auditor of Bankia, the team claimed the money Goirigolzarri Rato, who returned the amount last July, according to confirmed sources of the entity.

In addition to the former president, there were three other persons identified also reinstated the money to the bank and nationalized. It is Barcoj Sánchez, which earned 90,879 euros in two years under Bankia; Matías Amat , who had to return 42,042 euros; and José Manuel Fernández Norniella , which spent € 9,700 in personal expenses while in Bankia.

The list of alleged plot involved in this credit card includes both employers and politicians and trade unionists. Since José Antonio Moral Santín , Izquierda Unida, which reached 456,500 euros bill in 10 years, a Mercedes de la Merced , the PP, which spent 287,900 euros on the same . term

Among the beneficiaries are also Francisco Baquero , CCOO, which earned 266,400 euros; José Ricardo Martínez , UGT, 44,200 euros; former president of the CEOE, Gerardo Diaz Ferran , 94,000 euros; and former head of the Casa del Rey, Rafael Spottorno , which earned 235,900 euros, among others.

On 25 June, the Corporate Director of Internal Audit referred Bankia that report to the CEO of the Fund for Orderly Bank Restructuring (FROB), Antonio Carrascosa , and the prosecution recommendation of Herbert Smith Freehills , an independent consultant who advised Bankia this card check.

The report warns that the card charges “always” were supported by Caja Madrid, and that after the birth of Bankia remained settled by the box or by the foundation that emerged thereof. In this sense, Madrid Foundation Social Work announced yesterday that it will consider whether you can claim the money to the former executives.

The cards were provided by the Finance and Risk Caja Madrid, and not by the human resources department of the organization. The headline was the box itself savings, which also was authorizing its use. The beneficiaries possessed two types of cards to make this type of expenditure undeclared – Business Silver and Gold Business – in addition to the card used for activities arising out of the box.

The report was sent to alert judge also that “the grief [caused by Caja Madrid] would already be reflected in the balance he took Bankia” when he was born in December 2010 Moreover, it recognizes that use the cards “lasted for many years” , which was “fraudulently dispose of the assets of the company, directly causing economic harm” and a crime of unfair administration.

The case could also lead to an alleged crime prosecutor and other misappropriation. The report blames who authorized the use of those cards.

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