JUICIO BANKIA – The Prosecutor's Office appreciates defects in the Bank of Spain's actions in Bankia – Spain

The Anti-Corruption Prosecutor's Office has affirmed that the National Securities Market Commission (CNMV) and the Bank of Spain did not oppose the prospectus of the IPO of Bankia because they relied on favorable reports made by the entity's external partner and partner by Deloitte Francisco Celma. The trial for the IPO of Bankia in July 2011 held at the National Court of San Fernando de Henares (Madrid) continues on Monday with the presentation of the conclusions.

Prosecutor Carmen Launa, who in her final brief extended her accusation and added the crime of accounting falsehood by the accounts of BFA and Bankia In 2011, it has supported supervisors by ensuring that they fulfilled their transparency functions, adding that their activities did not include the verification of accounts.

"The existence of audits favorable to the information contained in the prospectus did not alert on all deficiencies that the auditor actually knew and did not show, "said the Public Prosecutor before the fourth section of the Criminal Chamber, ensuring that all decisions on the IPO and the information provided were "exclusive competence" of the entity's board members.

Launa has explained that the performance of these favorable audits by Celma were considered as "guarantors of transparency". "It was considered that they were adequate because of the endorsement that Celma assumed, being an essential mechanism to transfer the false image of solvency to the market ", He has specified.

The prosecutor stressed that those responsible for the Bank of Spain and the CNMV were considered as investigated in the investigation phase, although she recalled that after having taken a statement they were acquitted since his actions were of "criminal irrelevance".

In this regard, he has ensured that Deloitte's audit partner was "perfectly aware that the assets and liabilities that it included, both in the unqualified reports for the pamphlet and in the subsequent pro forma states, they were not worth what he said. "

"Celma Cooperation"

"Favorable audit reports assume an accreditation of Celma's cooperation for the commission of the crime of accounting falsehood, "he added. However, he affirmed that former president Rodrigo Rato was the person who "piloted the project" with perfect knowledge that there were uncounted impairments and financial weaknesses.

Vicar the will of investors

Anticorrupción has assured that the administrators were aware that the information contained in the Bankia brochure was going to vitiate the free choice of investors, who were hidden from the "bulky losses of the seven savings banks or sanitation deficits." "The sole purpose of the administrators was to obtain capital, 3,000 million euros, "he has reproached.

"The entire mechanism for the introduction of falsified information had the sole purpose of vitiating the will of the investor. The placement was detrimental to the investors, which has remained more than credited after the numerous claims by civil means ", has said.