Jordi Bagó Mons, President and CEO of Serhs Group, and another senior executive at the food and hospitality company was sentenced to a year in prison and fined for fraud in 2016 for concealing from the Novo Banco entity that he had signed a framework agreement with other banks. The financial debt results in a non-payment of 1.5 million euros. The two defendants admitted to the facts after their agreement with the prosecution, which initially demanded seven years in prison. The penalty was reduced due to the practice of mitigation of damage repair (payment of money) and unnecessary delays in the processing of the judicial process. The court of the Barcelona Court, which conducted the trial, gave a ‘voice’ sentence and postponed the execution of the prison sentence for two years in return for not committing a crime again. The defense attorney refused to consider the decision.
The Prosecutor’s Office has maintained its provisional nature that since 2012 the banking institution Novo Banco has provided financing services to commercial companies Sehrs Distribución y Logística and Grupo Serhs through a credit policy, to an economic limit that has increased over the years. the bank’s trust in these companies. Novo Banco requested the necessary information from the business group managers about its liquidity and solvency, as well as its significant ongoing operations, in order to secure the said financing and for their successive renewals.
operation “torticera”
In October 2016, the defendants, as heads of the Shers Group, signed a framework agreement with various banks for financial debt restructuring, which agreed, among other things, on preferential and early reinstatement of the bank loans they held. These credit institutions, according to the prosecutor, “to the detriment” of other creditors, including Novo Banco. Despite this framework agreement, the defendants later requested Novo Banco to renew and expand the policy, seeking to “unfairly and maliciously conceal” from that bank the existence of the framework agreement with other banking institutions in the accusation.
Novo Banco was unaware of this framework agreement until September 2018, after finding that close to three million euros had not been paid. Therefore, it was then that he learned of the clause specifying that the company would pay the debt refinancing entities with amounts from future divestitures, and in return, Novo Banco was hidden and the loan right was transferred. It is dependent and inferior to other banks. Faced with this situation, Novo Banco sent a request to the Serhs Group demanding the repayment of a debt of 1.5 million euros, to which the defendants transferred only 10 thousand euros.
Source: Informacion
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