Fake invoices, credit lines factoring with invented customers or documented loans without real trade in goods. Pescanova SA established a large system to obtain bank financingserved to pay off its due debts and finance investments without funds. An interesting pyramid or Ponzi scheme, powered by capital increases and bond issuance, that entices investors with overkill accounts. WRONG. It’s a massive collapse – the debt has exceeded 3,650 million euros – and it will not be recouped. At least it’s cheap. No one will pay compensation to companies such as Luxempart, Grupo Damm, Bankia or Silicon Metals Holding, which are considered the companies most affected by the bankruptcy of the group led by Manuel Fernández de Sousa. A Beautiful about 120 million euros.
The Supreme Court decision, announced yesterday by FARO DE VIGO from the Prensa Ibérica group, reveals that the damages incurred by these organizations – 125.5 million in total – must be compensated jointly and severally by Sousa herself and Pescanova SA. But neither one nor the other will make up for these losses. The former head of the multinational company has almost no assets to his name.: two Mercedes vehicles, a piece of land in El Escorial, some rustic farms and a bank account of just over 4,000 euros. He sold his sailboat Maracas for €5,760 just one day (July 2013) after he was forced to resign from the presidency, well below the market price of this Jeanneau Sun Odyssey 36i. his yacht third male (a Sunseeker Tomahawk 37, just over 11 meters long) captured; These types of models are sold second hand between 38,000 and 60,000 Euros. If the old manager has another ship, it will not appear in the asset list. What Fernández de Sousa will contribute is the funds he tried to divert to Standard Chartered Bank, again in 2013. from Hong Kong, through a Portuguese bank, on the pretext of taking advantage of the better returns offered in Asia for their savings. A fugitive he was convicted of raising assets along with his wife, Rosario Andrade Detrell. 4.65 million euros.
Andorra to Virgin Islands
Monitoring during instruction Pescanova case Leads to detection of family accounts in Andorraattributed to the cash sale of horses with 3.5 million euros; In Spain, they announced that they went to the Pyrenees country because of the “fear of the playground”. A separate piece of the case was even filed, which resulted in the indictment of Andrade and his sons Pablo and Ignacio. They were acquitted. There was also a company in Panama.Reflex Portfolio managed by the famous Mossack Fonseca –de panama papers–, and another in the Virgin Islands (International Management Finance). The latter was deactivated the same week he sold his boat. maracasafter learning the destructive forensic report KPMG’s, which portrays Sousa as the “trainer or consenter” of a conspiracy that led to the collapse of the multinational fishing company.
To the 4.6 million that Sousa will contribute, which has been blocked since the summer of 2013, must be added the corresponding part of the penalty for Pescanova SA, for which he was convicted of falsifying economic-financial information, which he saw as a beneficiary of illegal operations. Your participation in the task of compensating defrauded funds will be void. At least, if what the company itself has handed over to the National Securities Market Commission (CNMV) is fulfilled. First, it considers that the total amount, ie EUR 125 million, should be subject to the same general deduction that creditors suffered in the bankruptcy of the former parent company. That is, a deduction that would reduce the liability to 3.12 million euros. But these amounts old peskanova not willing to put it on the table: wants Nueva Pescanova to do it, the company that started operations in 2015, two years after the declaration of bankruptcy, and took over the fishing business. “The amount resulting from this calculation must also be paid by Nueva Pescanova pursuant to the contracts concluded between the said company and our company and disclosed to the public on October 28, 2015 and in force and validity at that time. It has been judicially verified,” reads the note sent to the supervisory body. Nueva Pescanova’s latest annual accounts have a reference to this scenario: “there is a possibility [las responsabilidades pecuniarias] He could be transferred to the group led by Ignacio González”.
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