The holder of the Court of Instruction number 1 of Malaga has agreed the judicial administration of Málaga CF por for a period of six months, at the time that the family has set Al-Thani –the sheikh as president of the entity and his three children as members of the Board of Directors- pay a Civil bond of 5.4 million euros.
This is stated in two cars that are issued after the hearing held on Tuesday in the case opened by the complaint filed by the Association of Small Shareholders (APA) by the crimes of unfair administration and misappropriation – which could be extended to money laundering – against the sheikh and three of his children; hearing in which the Prosecutor requested these precautionary measures.
One of the resolutions indicates that the judicial administrator is appointed as José María Muñoz Jiménez, which will assume the commercial management of the companies and must report to the court quarterly of any incident, and it is explained that said measure will be extended, where appropriate, automatically, for equal periods of six months.
The other order specifies that the bond must be provided “within the term of a hearing”, in order to ensure the eventual pecuniary responsibilities arising from this cause, warning that if it is not constituted “the seizure of assets of his property in sufficient quantity to answer for the sums “.
It will be from this Friday when the administrator takes possession and assumes the management of the Malaga and Nas Football companies. From the inauguration of the judicial administrator, all members of the Board of Directors will be removed, including the defendant president and non-board secretary, both of the Málaga Club de Fútbol Entity Sports Corporation, as of the Nas Football SLU entity, as well as the heads and attorneys.
It will be the administrator who assumes his functions and the commercial management of both companies, also having to collaborate at all times with the court, both at judicial and ex officio requirements.
A report on the accounts
The judicial administration will comprise the entire organization of the Sociedad Anónima Deportiva Málaga Club de Fútbol and Nas Football, SLU. The administrator will have to issue a report within three months on the economic and accounting situation of the managed entities, which will include the management carried out by the ceased administration and current status of the accounts of both companies.
In addition, you must make an inventory and valuation of the corporate assets, which must, in any case, include in detail the overdue, liquid and payable debts, both in favor and in charge of the sports corporation and Nas Football SLU – with special mention of labor and public administration liabilities-, treasury forecasts, credit recovery and proposed solutions for payment and collection of the slopes, as well as for the immediate future.
The Prosecutor’s Office was in favor of the judicial administration, noting that the initial report sent by the group in charge of the investigation pointed out, after the study and analysis of the accounting and other documentation examined, “the existence of a constant action over time by the defendants in their capacity as a member of the Board of Directors of the entity exercising unfair and abusive power in the management and direction of said entity. “
“Apparently fraudulent” activities
The judge highlights the interim report of the National Police Laundering Section and notes the analysis of the documentation suggests that “initially and provisionally” Nas Football is “an instrumental legal figure that only serves to try to hide and shield the natural person of its partner and sole administrator, who along with their children, members of the Board of Directors of Málaga CF have served their own and only benefit, seriously damaging the assets of the corporation “.
Thus, he points out that the activities apparently “fraudulent and to the detriment of sports society, at least at this procedural moment that is still very initial, are suspected of having been carried out through transfers of cash and liquid between companies belonging to the Al-Thani family, which has implied misuse of corporate funds for private activities of the directors “of both companies.
It is indicated in the car, consulted by Europa Press, that the defendants “have disposed, with the appearance of fraud, property and rights” of Malaga and by these have been signed on behalf of the club and in favor of the Nas Football entity several loans, “not knowing that payment is being made of the different repayment terms “.
It is added that “there is in the documentary cause that suggests in a more than reasonable way that such loans come to cover cash outflows of the two companies for the payment of private activities of the directors, as would be, by way of example, travel, hotels, travel agencies, private homes, acquisition of private vehicles, etc. “
Initially insists on decisions of the Al-Thani family “exclusively in their own interest, such as improvements in their economic situation as senior management staff – through the establishment of millionaire remuneration – and, with abuse of their duties for their positions directors of the company, and despite having full knowledge of the very difficult economic situation it is going through” the club.