La Razon / The experts of the Bank of Spain which showed irregularities in the merger and IPO of Bankia admiteron yesterday that the 2011 accounts, which were approved by the team of Rodrigo Rato in March 2012 to “accounting errors” were reformulated correctly in May by the current team, headed by José Ignacio Goirigolzarri.
Although experts, Antonio Busquets and Víctor Sánchez Nogueras, stressed in reports referred to the judge of the Audiencia Nacional, Fernando Andreu, the reformulation of accounts May marked the “recognition” of Errors team Rato and not “a change in estimates’ balance sheets, yesterday acknowledged that the estimate of the viability of the institution by the current management was appropriate, according to sources present at the interrogation yesterday FROB both experts.
They also said they could make a mistake when encrypting on more than four million it improperly charged by some former directors of Bankia not have sufficient data charges occupied at all times.
In its reports, the experts detected irregularities in the collection of diets by three directors Rodrigo Rato, José Manuel Fernández and José Luis Olivas Norniella, already receiving a salary, which could involve the receipt of improperly 1,478,000; while other diets were offset by assisting others advice and had contributions to pensions, which would translate into 2,848 more than their share million. For more than five hours of hearing, experts explained that lacked the monthly breakdown, so could be wrong in your calculations and have introduced concepts in duplicate.
The contradictions also flourished during the statement of the experts on the alleged lack of information received by Bankia to prepare their reports. In the first part of his speech, complained that the current management team did not provide any data on why the company spent cataloging of “normal” to “substandard” (currently being paid, but able to pass doubtful ) of 13,244,000 euros in loans directly instead of considering them “doubtful”. However, they finally acknowledged that did receive the information necessary given that the legislation itself determines if the criteria are not met to individually classify those loans as “doubtful” are considered as a single portfolio.
FROB want to remove the findings of experts to avoid state responsibility, which would oblige it to pay up to 3,000 million people affected by the IPO of Bankia if it is determined that it was fraudulent.
With Information La Razon
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