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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 15 June 2012 [View all]xchrom
(108,903 posts)54. 15-M protestors press fraud charges against Bankia managers
http://elpais.com/elpais/2012/06/14/inenglish/1339685450_514732.html
Activists from the 15-M protest movement on Thursday filed a criminal complaint against former Bankia president Rodrigo Rato at the High Court accusing him of accounting and financial fraud in connection with the governments intervention of the commercial bank last month.
The complaint also names Bankia and its parent Banco Financiero y de Ahorro (BFA) as co-defendants.
Lawyers for the movement claim that Rato, along with others, presented false figures last year to help with its stock market flotation and rake in investors through this fraudulent scheme. They are asking that the High Court sentence Rato, a former economy minister and IMF managing director, to between one and six years in jail, bar him from conducting financial transactions for a certain period, and order him to pay fines.
Stockholders were completely duped, said lawyer Juan Moreno Yague, who is representing the 15-M movement in this case.
Activists from the 15-M protest movement on Thursday filed a criminal complaint against former Bankia president Rodrigo Rato at the High Court accusing him of accounting and financial fraud in connection with the governments intervention of the commercial bank last month.
The complaint also names Bankia and its parent Banco Financiero y de Ahorro (BFA) as co-defendants.
Lawyers for the movement claim that Rato, along with others, presented false figures last year to help with its stock market flotation and rake in investors through this fraudulent scheme. They are asking that the High Court sentence Rato, a former economy minister and IMF managing director, to between one and six years in jail, bar him from conducting financial transactions for a certain period, and order him to pay fines.
Stockholders were completely duped, said lawyer Juan Moreno Yague, who is representing the 15-M movement in this case.
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