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BY: DENNIS FALVY
Check this amazing note at BBC Madrid, in which it is clearly stated how they did the “indignados” of Spain to bring to trial the former chief of the IMF Rodrigo Rato; post by James Badcock.
AND THAT IS AFTER A LAPSE
The “indignados” in Spain are at the gates of logged one of their greatest victories against the corruption. That’s thanks to an initiative launched in 2012 by a group of political activists took to the bench of the accused to Rodrigo Rato, a former Economy minister and former head of the International Monetary Fund (IMF). This Monday started in Madrid in a trial against dozens of former members of the board of the Spanish bank Bankia, accused of misappropriation and fraud. Among them, the grand prize for the activists it is Time, who denies all the charges against her. Four years ago, protesters were demanding action against corruption. It all started in a meeting in Barcelona more than four years ago, which was held on the occasion of the first anniversary of the protests of 15 may 2011 by the “indignados” against the corruption. One of the attendees asked why not were trying to send Out to prison.
DEVELOPED THEN
“So that we have a rational plan, with a reasonable amount of time towards that goal,” says Sergio Salgado, a leading member of the campaign group 15MpaRato, which is directly responsible of that Time has been called to trial. “We don’t have anything personal against him,” explains Salgado. For Simona Levi, another leader of the movement 15MpaRato, the former manager of the IMF is a symbol of the culture of the “revolving door”.
WHO IS RODRIGO RATO?
67 years of age, While he was minister of Economy in the government of the conservative Popular Party (PP) led by José María Aznar between 1996 and 2004.
is often attributed to Time being the “brain” of the economic boom in Spain, before the collapse of the bursting of the housing bubble in 2008.
When the PP lost power in 2004, While he became the head of the IMF, a position that suddenly left in 2007 for “personal reasons”. In the year 2010, he was appointed chairman of Bankia, a bank formed by the merger of Caja Madrid with other savings banks public, all affected by the problems that had been left by years of easy credit to construction projects.
Under his leadership, Bankia became the bank’s symbol of the financial crisis in Spain.
Traded at the stock market in July 2011, being the fourth largest bank of Spain.
Bankia said initially that he had managed to operating earnings in 2011 of US$ 340 million.
however, an audit in may 2012 showed that he had in fact had substantial losses.
Time he was forced to resign as president of Bankia and the bank was nationalized.
And from night to morning, the shares acquired by more than 200,000 small investors lost all value.
WHAT DID THE ACTIVISTS?
The scandal of the cards ‘black’ affected Time.
The small team of 15MpaRato began to collect evidence of what they saw as fraudulent information provided to people with accounts in Bankia, which had received the opportunity to purchase “preferred shares” prior to the ipo.
Encouraged to smaller investors “victims” to come forward, sue Bankia, and help them build a credible story to persuade prosecutors to take action.
Bankia finally agreed to devolverle1.500 million to about 200,000 savers who had purchased preferred shares when the courts accepted a report from the Bank of Spain, which established that there had been deception.
The role of Time in this alleged fraud is still being investigated with no date set for that trial.
NO one FIGURED out WHAT THE CARDS
What no one expected was the case of the credit cards, “black,” and it is for this cause that the former Spanish finance minister is facing trial since Monday.
The evidence came in 2013, when Simona Levi opened an email of complaint of irregularities.
In the message, there was a complete list of people accused of using credit cards issued in secret to the counselors and advisers of Caja Madrid and later Bankia, as well as complaints about the manner in which they had spent money.
Levi recalls that at the beginning they read huge amounts of information that came through that account and they were not taking it too seriously. But then they began to think that they were seeing “a real treasure”.
The list contained many prominent names of spain’s political life, including representatives of the political parties of the right and the left of the trade unions as well as senior managers in banking, including Time.
And the activists of 15MpaRato shared with the Spanish media.
THE VAST SUM to be FOUND
The total sum spent between 1999 and 2012 amounted to € 15.5 million, money allegedly meant to cover the expenses of attendance at meetings of the board but allegedly often used for personal items or simply withdrawn from atms.
WHAT ARE THE PROSPECTS OF TIME?
The case of the credit cards ‘black’ has angered former shareholders of Bankia. Time was briefly arrested in 2015.
Time is facing a possible prison sentence of up to 10 years if found guilty of implement and expand the system secret credit card, and can be brought to trial on at least three other cases.
The prison would fall in disgrace from a man who once was considered a candidate to occupy the position of president of the government of Spain, but in 2014 he was forced to resign his membership of the PP.
In 2015, we knew that he was being investigated for tax fraud after taking advantage of a tax amnesty, three years before, repatriando money that had been keeping overseas.
This research led to him being briefly detained in April of 2015.
He, like all of these, denies cinismos the accusations.
ANY RESEMBLANCE WITH THE REALITY of OUR …
what it sounds like, family, what happens in the Peru of today with so many sinister characters pericotes and pericotes, defended youthful by pristine lawyers, journalists and even suspected leaders of opinion? Go if history repeats itself .The absolve and orondamente walking with assets that can’t be explained. But of course there is the apology or the proof of enrichment of the "tinka" ; games of chance; the conferences abroad ; the returned remains of the campaigns, which according to the ombudsman of the bankers, the Palaces, no problem friend, spends just; the donations , the repatriation of capital that have not paid their taxes, because the government needs money for the tax case, and the “fines” of ganga , oh wonder Congressman Carlos Bruce’s praises and he loves it . And that and so on that you need to "test" and that our ancient and other things that holds our "Judicial Power" and release the "alleged criminals" even to those who are in prison, remand for exceeding the time and their appalling inefficiency many times proven . And all this mamarracho, and despite the fact that before the campaign and during the same ; Kuczynski at least it filled the mouth that would change the National Council of the Magistracy, with at least 3 notable; for they forgot the topic ; just like its absurd to ministry to monitor the regions. Why is it ah? For something command to Bruce to point out for streets and squares, that they look not to the past but the future. If neither crystal ball have these "boludos". But that if, a sound and estertorea laugh to Santa Claus, which according to me have given a large percentage of the 65% of popularity that give such uncontrolled surveys from Ipsos and Datun , among others . JAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJAJA.
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