MADRID (Reuters) – the High Court has admitted admissible a complaint filed against Caja Madrid (now Bankia) by granting mortgages to individuals with appraisals allegedly inflated between 2002 and 2007, according to a self known on Wednesday .
Specifically, the judge will investigate an alleged crime of fraud Miguel Blesa, chairman of Caja Madrid at the time, Ildefonso Sanchez Barcoj, CEO, Ramon Martinez, risk manager and Ignacio de Navasqué, CEO of Appraisals Madrid, who will have to declare condition “investigated” the old figure of the accused.
the investigation will examine whether the appraisal group valued of “systematically” mortgaged property above the price of the same simulating therefore that loans were not granted above 100 percent of the mortgaged value.
We also examine whether 20-year loans to foreigners were granted temporary residence permits and work one or two years of validity and if these loans were subsequently used for the issuance of bonds and mortgage bonds.
the management of Caja Madrid in the years of the housing boom is being investigated in various fields, from the IPO of the company after its merger with other savings to the system of remuneration to senior executives known as ‘black card’.
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