Iranzo economist John Martin, former director of the Institute of Economic Studies of Alicante (Ineca), has resigned as an independent director of Red Eléctrica Corporación, after his name appear on the list of 83 former directors of Caja Madrid and exdirectivos they used the card ‘B’ of the entity for private expenses.
Iranzo, who charged a cost of 46,800 euros in opaque card to the treasury of the bank, has formalized his resignation in a letter addressed REE president Jose Folgado. It says resigning “thinking about the reputation of the company.”
On Wednesday, Folgado summoned urgently to the Committee on Governance and Corporate Responsibility for the company to “analyze and evaluate” all information about your advisor Juan Iranzo and the use of ‘black’ card Caja Madrid.
Iranzo is an independent director since 2012 REE, a company listed on the State Holding Company (SEPI) is the largest shareholder with 20%.
The name appears among the 83 Iranzo exdirectivos and former directors of Caja Madrid allegedly used ‘black card’ for private expenditures worth more than 15 million euros between 2003 and 2012.
According to the documentation delivered to the National Court judge Fernando Andreu, Iranzo made use of 46,800 euros from these corporate cards during the nearly two years that served as director of the Madrid box.
On Thursday, Iranzo and resigned as director of the Economic and Social Council (CES) by the scandal of the cards ‘B’ Caja Madrid.
After leaving the tips and REE CES, Professor of Applied Economics at the UNED maintained their positions as dean of the College of Economists of Madrid and counselor Feriberia.
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