Fri. Jan 18th, 2019

The National Court temporarily suspends the trial for the Bankia IPO | Economy

The National Court temporarily suspends the trial for the Bankia IPO | Economy



The Fourth Section of the Criminal Division of the National High Court has suspended, for at least two weeks, the trial for the Bankia IPO for reasons of health of the prosecutor of the case, Carmen Launa. According to legal sources, Launa has informed the court of the reasons that led him to be absent from the trial and the chief anti-corruption prosecutor, Alejandro Luzón, has warned that no other prosecutor can take charge of the case, since the case is very complex.

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Luzón was the prosecutor in charge of the investigation of the case, but when he was appointed Anticorruption chief in June 2017, he passed into the hands of Launa. Luzón also told the court that in the next two weeks he will be outside Spain, so he can not replace it, as well as underlining that his obligations as head of the Anticorruption Prosecutor's Office prevent him from exercising that role.

The trial for the IPO of Bankia began on November 26, 2018 with the previous issues, but the statement of the main accused, Rodrigo Rato, did not start until last Tuesday.

Especially notorious was Launa's exposition of previous issues, in which he announced a possible change of qualification of the initial brief, which is only directed against Rato and the other three de facto ex-administrators of the bank, José Luis Olivas, José Manuel Fernández Norniella and Francisco Verdú for swindling investors. With this, it opened the doors to expand the charges and contemplate a possible crime of accounting falsification that would affect the thirty former directors of the financial group and the audit partner, who face penalties of up to 12 years in prison requested by the private accusations and popular

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