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Judge seeks report from Santander on the status of Popular from 2014 to 2017

A National High Court judge examining Banco Popular’s last two management teams has asked Banco Santander for a copy of…

By admin , in news , at May 9, 2022



A National High Court judge examining Banco Popular’s last two management teams has asked Banco Santander for a copy of the image and reputation analysis carried out by the communications sector of the dormant entity from 2014 to 2017.

In an order dated April 21, to which Efe had access, the judge Jose Luis Calama It also requests that the letter sent in November 2016 to the former communications director, Carlos Balado, to the Council’s secretary, Francisco Aparicio, be provided.

The letter, sent when a change in the bank’s presidency was already taking place, condemned the “leaks, to the media, of the council’s secrets, and their effect on the bank’s actions and reputation”. Will do For Spanish association of listed entities ,amec,

Amec, a private prosecutor representing the bank’s approximately 7,000 former shareholders, asked the magistrate for a series of steps relating to the election process and subsequent arrival in the bank’s presidency. Emilio Saracho location Angel RonoIn some of which the judge has participated.

However, Calama denied the “necessity”. J. P. Morgan agreed to send economic terms after Saracho’s departure, as it is an absurd matter to investigate”, nor signed a contract with Popular during his presidency.

Nor does he agree to ask the insurance company planner Spencer Stuart Popular through Appointments Commission Chairman Reyes Calderon gave him a series of assignment-related data, so that he could seek a professional profile to replace Angel Ron in the position.

Calama does not consider this information relevant, as “the bank’s board of directors did not oppose that appointment,” he says.

The judge ruled that BBVA And this sabadellAnyone who participated in a “virtual data room”—database enabled so that interested entities can receive information about the popular—must provide specific reports on their interest in acquiring the entity.

And, “at the moment”, he has not agreed to do so. Deutsche Bank and Credit and Investment Bank (BCI), while AMEC does not provide “concrete data” to justify the request.

The popular case fragment in which Emek appears as an indictment examines Saracho’s brief mandate, a cause that focuses on potential crime. Market rigging with fake news To reduce the value of the stock.

The association asserted that it was “solvent and viable”, popular at the time of its resolution, and states that Saracho “reportedly sought to manage and reduce the value of the share in order to facilitate a corporate operation at a lower price”. Didn’t choose.”

In addition, another line of research affects ron and his team capital increase In 2016 amounted to 2,500 million euros.

Similarly, Central Directive No. 1 is already investigating the 2012 capital increase, after accepting a complaint from Duran and Duran Abogados for the same. alleged investor scam,