MADRID (Reuters) – Spanish bank bailout fund has led to the prosecution a file on wages in the old directive of Caja Madrid noting further irregularities between 2007 and 2010 in the integrated current Bankia entity that could have caused loss of 14.8 million euros.
The Fund for Orderly Bank Restructuring (FROB) said in a press release that the proceedings analyzed “It could have produced the collection by senior management of the institution of excessive perceptions and in some cases , with no evidence of compliance with procedures as step by the organs of government. ”
Among other irregularities pointing FROB, Caja Madrid implemented in 2008 “significantly greater than that due” to members of senior management pay rise, in some cases exceeding 26 percent. These increases, added the agency also served to calculate subsequent compensation.
Between 1996 and 2009 the company was headed by Miguel Blesa, who then took over from Rodrigo Rato that will manage the merger and IPO Caja Madrid, Bancaja and other smaller savings banks.
The resulting group, Bankia-BFA, had to be rescued with public support around for about 22,500 million euros in 2012, Rato and Blesa are defendants in the case that leads the National Court for the exit IPO of the group, which has recently joined the use of credit cards opaque directors and executives.
For the latter reason, the Court has embargoed goods Blesa, after a period of three days to deposit a bail of 16 million euros.
The FROB has also detected irregular transactions in the accounts and management of Caixa Catalunya NovaCaixaGalicia and two others rescued.
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