Two supreme accusations extinct popular Bank assured before the judge of the National Court investigating the crime of fraud or breach of information duties against investors.It can be said that this operation was a “sounding success” to the capital increase realized in 2012.
Legal sources told Europa Press that Jacobo González-Robatto, the bank’s former corporate and financial director, and José Ramón Rodríguez, former Audit Commission chairman, argued that there was no merit in their statements as defendants before judge Santiago Pedraz. Stepping into expansion without the consent of the Bank of Spain.
Indeed, González-Robatto would recall that it was the Bank of Spain that encouraged Popular to recapitalize as a result of agreements signed within the European Union. The former manager responsible for producing the brochure defended it, saying it contained the brochure. precise, detailed and in-depth information.
President of the Central Instruction Court No. 5, in the capital increase “omissions and biased and misrepresented information to raise capital that would otherwise not be availableviolating the information disclosure duties established to guarantee the transparency of the exchange”.
In this context, the former finance director emphasized that the National Securities Market Commission did not make any observations about the brochure itself. According to him, it is also unusual in such transactions, where the regulatory agency usually makes some form of finality or correction.
Audited by PWC and reviewed by Deloitte
González-Robatto himself assured himself that the expansion was successful, as the bank was unable to meet customers’ demand for shares. Secondly, always in the words of the former director, they would get a great return on their investment in the business.
According to other sources, the two former directors also recalled: this transaction was audited by PwC and subsequently extensively reviewed by Deloitte. In his view, this extension reflected Popular’s then faithful and genuine image, contrary to what the complainants claimed.
To defend the affordability of the expansion, one of the defendants argued that a person who invested 1,000 euros in it could earn close to 2,500 euros at the end of 2013.
The version presented by González-Robatto and Rodríguez coincides with last October’s report by former Banco Popular chairman Ángel Ron, who denied before the magistrate that irregularities had been committed in the capital increase and argued that the pamphlet with the conditions was valid. the same was “absolutely open and transparent”.
Ron pointed So it was the Bank of Spain that asked Popular to “capitalize”.. “And we succeeded: we submitted the plan to the authority of the Bank of Spain and the European Commission, which gave it to us, and it was implemented,” he told the press after leaving the courthouse.
That same day, the judge also took the investigative statement from former vice president Roberto Higuera, along with Ron of the entity. Higuera, while arguing before the judge that all the operations were carried out correctly, stated that the 2012 annual accounts, including Banco Pastor, were audited by the PwC consulting firm, unlike Deloitte.
Source: Informacion
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