March 6, 2021

The experts of the defenses take from tomorrow the trial for the Bankia case

The National Court on Monday begins a new stage in the trial for the IPO Bankia with the first independent expert opinions proposed by the defenses, among others, the former vice president of the entity José Luis Olivas, who will take over the joint test.

After three weeks, last Wednesday, the fourth section of the Criminal Chamber concluded the confrontation between the experts who appeared at the request of the accused and those of the Anticorruption Prosecutor, Antonio Busquets and Víctor Sánchez Nogueras, to whom the court exempted from attending the following sessions.

However, at the end of the day, Judge Ángela Murillo suggested that at least one of the two judicial experts be present at the ratification of the reports that are scheduled for tomorrow and until Wednesday.

The academics José Antonio Gonzalo and Begoña Giner will open the session proposed by the former Bankia Araceli Mora; Immediately, the partners of KPMG Fernando Cuñado and Francisco Uría will intervene for the defense of the entity's intervener, Sergio Durá, and the lawyer Carlos Gómez-Jara, who will participate at the request of the firm Deloitte.

Two days later, on Wednesday, the expert Rafael Martins de Lima will do the same, on the part of José Luis Olivas.

In the last week, the judicial experts insisted again that the accounts that Bankia used to go public did not reflect the faithful image of the financial group entity since "the losses should have increased and reserves reduced."

In addition, they insisted that the low price at which the action debuted, 3.75 euros after suffering a discount of 74%, would have had a negative effect on the parent company, BFA, which was not recorded in the financial statements until the 2012 reformulation. , already with the new team of José Ignacio Goirigolzarri in front.

Version that the defenses rejected, that assured that Bankia made "an exercise of brutal transparency" in its jump to the parquet, in which acted "of diligent form" to "protect the retail investors".

Both Busquets and Sánchez Nogueras appear at the proposal of the Anticorruption Prosecutor's Office, which requests between five years and two years and seven months in prison for the former Bankia managers (Rodrigo Rato, José Luis Olivas, José Manuel Fernández Norniella and Francisco Verdú) for allegedly scam investors.

Crime to which are added the alleged accounting falsity particular and popular accusations, such as that exercised by the Inter-Union Confederation of Credit (CIC), which requests up to twelve years in prison for about thirty former directors of the financial group and the audit partner.

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