Freeze the bank deposit Madrid – Portafolio.co

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Thousands of customers of Banco Madrid, subsidiary Espa & ntilde;! A Private Banking d’Andorra (BPA), can not access their money, either dep & oacute; ments, investment funds & oacute; no sicavs, after two entities be tapped by the authorities of Espa & ntilde; ay Andorra and investigated for alleged laundering operations capitales.La Commission & oacute; n espa & ntilde National, wave Mercado de Valores (CNMV) decided & oacute; Yesterday temporarily suspend redemptions of investment funds & oacute; n Sicav (Companies Inversi & oacute; n de Capital Variable) administered by the manager of investment & oacute; collective n Banco Madrid

The esc & aacute;. sandalwood is desat & oacute; a week ago, after news that US acus & oacute; BPA to launder money from customers like the C & aacute; rtel of Sinaloa; Gao Ping, the alleged ringleader of a Chinese plot; Andrei Petrov, an alleged member of the Russian mafia, and Venezuela’s state oil company PDVSA

Adem & aacute;. S, four former senior government of Hugo Ch & aacute; time and two Venezuelan businessmen living & iacute; an allegedly involved in money laundering case in Espa & ntilde; a, sec STILL public & oacute; yesterday espa daily & ntilde; ol El Mundo, citing a report by the FIU espa & ntilde;. ola (Sepblac)

The suspension & oacute; n reimbursement agreed by the CNMV & ldquo; is limited to funds whose operating participated in the said bank & rdquo ;, and & ldquo; & aacute be extended; by the imperative to guarantee the rights of investors in these products time and equal treatment & rdquo ;, sec STILL explained & oacute; the Commission & oacute; n in a statement. The CNMV indic & oacute; that tom & oacute; this decision & oacute; n, AFTER & eacute; s that new directors of Banco Madrid, appointed by the Banco de Espa & ntilde; a, applied for voluntary bankruptcy of the company, due to the & ldquo; sharp deterioration suffered in the situation & oacute; n econom mica-Financial Bank in Madrid STILL last few d & iacute; as & rdquo ;. Although at the time of its intervention & oacute; n, by the Banco de Espa & ntilde; a, Madrid Bank showed no solvency problems, the esc & aacute; sandalwood on alleged implications for money laundering by organized crime provoc & oacute; a massive withdrawal

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Thousands of customers of the Bank Madrid, Spain subsidiary in Private Banking d ‘Andorra (BPA) can not access your money, whether in deposits, mutual funds or sicavs after being tapped both entities by the authorities of Spain and Andorra and investigated for alleged laundering operations capitales.La Spanish National Commission del Mercado de Valores (CNMV) decided yesterday to temporarily suspend redemptions of mutual funds and Sicav (Investment Company with Variable Capital) administered by the management of collective investment of Banco Madrid.

The scandal broke last week, after news that US GAP accused of laundering money from customers like the Sinaloa Cartel; Gao Ping, the alleged ringleader of a Chinese plot; Andrei Petrov, an alleged member of the Russian mafia, and Venezuela’s state oil company PDVSA.

In addition, four former officials of the government of Hugo Chavez and two Venezuelan businessmen would allegedly involved in a case of money laundering in Spain, as published yesterday by Spanish newspaper El Mundo, citing a report by the Spanish financial intelligence unit (Sepblac).

The suspension of redemptions agreed by the CNMV “is limited to funds whose operation involved the said bank” and “be extended by the imperative to guarantee the rights of investors in these products time and equal treatment”, explained the Commission in a statement. The CNMV indicated that made this decision after the new directors of Banco Madrid, appointed by the Bank of Spain, applied for voluntary bankruptcy of the company, due to the “sharp deterioration suffered in the economic and financial situation of Banco Madrid in recent days. ” Although at the time of his intervention by the Bank of Spain, Madrid Bank had no solvency problems, the scandal over alleged implications for money laundering by organized crime caused a massive withdrawal of funds.

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