October 21, 2020

Rato's defense attributes Bankia's fall to an accident in the crisis


It is time to convince the court, the moment of truth. The defense of Rodrigo Rato, the main defendant of the Bankia case, on Wednesday expressed his final allegation, his conclusions after the practice of all the evidence of the trial. With effusiveness, the lawyer Ignacio Ayala has denied the crimes and attributed the fall of Bankia to a accident caused by the hard crisis Economic of the year 2008.

"Everything was done reasonably well, and with the best intention," said Rato's lawyer, who rejects that Bankia's former leaders intended to deceive investors with the IPO of 2011. Less than a year later, Rato resigned as president, Bankia's action collapsed in free fall and the State had to nationalize the entity's parent company to save it. In the end, the rescue demanded the use of 22,424 million euros of public money.

Rato's defense has reproached accusations that ignore that crisis and de-sexualize the facts. "They offer them as autonomous episodes of a historical, legal context and a regulatory framework," said Ayala, who has criticized that this way of arguing implies "a denial of evidence."

For Rato, the Prosecutor's Office request eight and a half years in jail for the crimes of fraud against investors and documentary falsehood. According to the Public Ministry, former Bankia officials deceived investors, because the prospectus for the IPO omitted the real image of the entity. The objective was to capture as much capital as possible in a crucial operation for the economy, supported by the institutions. According to the hard allegation of the prosecutor, Rato and Olivas knew perfectly that bad situation that existed below in the entity resulting from the merger of seven boxes.

«It is suggested that the cause of the crisis was Bankia. Bankia suffered the crisis, like the rest of the financial system. It seems that the world crisis was a consequence of Bankia and its administrators, who are to blame for everything, ”argued Ayala, who has reproached a lack of rigor to the accusations of the case. According to Rato's defense, the accusations have carried out an exercise of «voluntarism», trying to adapt the reality and the evidence of the trial to his preconceived thesis.

The thesis of the defense of the former president of the entity is that, if the collapse was a consequence of the unforeseeable consequences of the economic crisis, there can be no fraud, the spirit of deceiving that is necessary for the crime. «Is the system being judged or are facts being judged?», He reflected out loud. He has insisted that the recession was the worst "in times of peace in Spain," a worldwide contraction that was not lived according to him since the "crack" of 1929.

The lawyer, who has cited the science fiction author Ray Bradbury and has alluded to thesis of cognitive psychology to charge the charges for that alleged search for guilty parties, will continue next Monday with more arguments. After the allegations of all parties, the accused may express their last word.


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