The old dome of Caixanova will sit on the bench again. The judge of the National audience José de la Mata has finished the investigation of a presumed real estate pitch that supposed a damage to the box of 43 million euros and proposes to judge the former president of Caixanova Julio Fernández Gayoso, four ex-directors of the entity and two businessmen. The supposedly irregular operation, to build an urbanization and a sports port, was carried out in Cangas de Morrazo (Pontevedra).
The managers of the Galician savings banks were the first bankers to enter prison in Spain due to the financial crisis. The National Court sentenced them in 2015 to two years by unfair administration and misappropriation and the Supreme Court upheld the sentence. They charged 18.9 million in compensation and condemned them to return 10. The Pontevedra operation will not be the only one that will take them back to the dock: they are pending trial also for four financial operations (presumably irregular loans) to refloat Bernardo Alfageme and for another real estate transaction in Rivas Vaciamadrid which caused a financial loss to the entity of 41.85 million euros.
De la Mata understands that the facts are constitutive of a societal crime continued in its form of unfair management of fraudulent management of social assets and another of misappropriation, according to the order to pass to abbreviated procedure (which ends the instruction). Crimes that would have committed Fernández Gayoso, the former general managers Gregorio Gorriarán Laza, Óscar Rodríguez Estrada and Ángel Corona, the then head of Participated Companies Juan Manuel Gutiérrez Ois and the administrators of the real estate company Atlántico Construcciones y promociones SL Ubaldino Rodríguez Bello and his wife Natividad Blanco González Pereda.
The operation investigated by De la Mata was a real estate investment in Cangas de Morrazo halfway between Atlántico Construcciones and Caixanova, which was going to provide financing. The project would be developed through two companies (CRMA and RMA) 50% owned by the two partners. It consisted in a residential, commercial and hotel development and the construction and operation of a marina. The project had a maximum investment of 151 million euros.
The judge considers that the investigated ones designed the operation "specifically and deliberately" so that the financial cost was assumed by Caixanova so that Atlántico de Construcciones limited itself to injecting into the project the amounts received from the box, "so that all the risk of the operation (very high in the face of the urban situation of the land, which prevented the intended development) and the consequent losses, which exceeded 43 million euros, run by Caixanova, "he said in the car.
Caixanova executives managed, according to the magistrate, that the corporate bodies of the entity adopt the necessary agreements to provide the project at all times with the necessary sources of funding, "hiding the lack of sufficient technical analysis to support the assumption of risk in the initial phase and without providing sufficient information in relation to the successive agreements that were adopted, in particular as regards the urbanistic situation of the land and the legal and technical viability of the project ".
The managers thus managed to get the fund to partner with a partner who did not have the economic and financial capacity to materialize the purchase of the land or to independently assume the part of the project that corresponded to it, and to pay for the land a "very high amount". and not justified at all (to see the huge capital gains of Rodríguez Bello and Rodríguez Pereda there, "continues the magistrate.) In addition, a legal audit was omitted and the" most elementary diligence to check first and, to ensure later, was avoided. , the feasibility of the project and subtracting to the corporate bodies of Caixanova (Delegated Commission and Board of Directors) the appropriate information so that it could make informed decisions, "he adds.
In his order, the magistrate agreed to the provisional dismissal of the case for 11 people, including former Director General José Luis Pego, and granted a period of ten days to the Prosecutor's Office, State Attorneys and Abanca (heir to Caixanova) as accusing parties to request the opening of an oral trial by filing an indictment or requesting the dismissal.
After 14 years of the operation, the urban project was never started and not even the urban qualification of the land was changed, which was qualified as unconsolidated urban land of predominantly industrial use. The General Plan of Urban Planning (PGOU) that was going to allow to take ahead the project never was approved, emphasizes the magistrate, reason why always it was not viable.