August 1, 2021

Practically all convicted bankers avoid jail

Practically all convicted bankers avoid jail

Almost all former directors of the old savings banks that have been convicted in court for their management in front of these entities have avoided jail, and the very few who came to step on it were little time behind bars.

With some notable exception, such as the ex-president of Caja Madrid Miguel Blesa, or the former directors of the Galician savings banks, savings bank administrators have suffered more from the bench than the actual entry into prison.

A decade has passed since the beginning of the crisis, and after a cascade of judicial processes, the balance is clear, and to this day there is not one prisoner.

More difficult it seems that the former president of Caja Madrid and Bankia Rodrigo Rato can avoid going to jail, to which the Supreme Court has confirmed this week the penalty of four and a half years for misappropriation for the use of "black" cards.

Although you can appeal to the Constitutional Court, the procedure will not prevent it from becoming effective, since it is a four and a half year sentence for a single crime there is no option to suspend it; in this way, once notified, the Supreme Court will return the proceedings to the National Court, which will issue the judgment for entry into the prison of his choice.

Rato would not be the first person in charge of a bank that enters the prison for the management of a financial institution investigated after the outbreak of the crisis in 2007 and the subsequent restructuring of the sector, a period in which the interventions have taken place. of boxes and judicial processes.

That distinction falls on his predecessor at the head of Caja Madrid, Miguel Blesa, who in May 2013 spent less than a day in Madrid's Soto del Real prison for the alleged commission of several crimes in the purchase in 2008 of City National Bank of Florida.

After paying the bail, barely a month later he returned to prison based on new evidence, although five days later another court annulled the investigation.

It was not until January 2017 that five ex-directors of Novacaixagalicia Banco, sentenced to two years in prison for the early retirement of 14 million euros that they granted themselves before leaving the bank, were effectively in jail.

But one of them, the ex-president Julio Fernández Gayoso, was released because of his advanced age -85 years- while the rest of former directors managed a year later to benefit from the prison regime attenuated with daily departures to perform work tasks Social.

Nor the four former directors of Caixa Penedès accused of fattening their millionaire pensions irregularly entered prison after having been sentenced to sentences of between 1 and 2 years in prison, as they acknowledged the facts and returned the 28.6 million charged for them .

The old dome of the Mediterranean Savings Bank (CAM) has not stepped into prison, executives to whom the National Court sentenced up to four years in prison for "distorting" the financial statements between 2010 and its intervention in 2011, since the sentence is appealed in the Supreme Court.

Neither the former president of Caja Castilla la Mancha Juan Pedro Hernández Moltó and the former director general of the entity Ildefonso Ortega, sentenced to two years in prison and a fine of 29,970 euros each for falsifying the accounts of the case.

The penultimate episode has begun this week, with the beginning of the trial against the old dome of CatalunyaCaixa, among which are its ex-president and former vice-president of the Narcís Serra government, who faces a four-year prison request.


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