Court sees statute of limitations on CAM balls, but retains the bulk of charges

Deposit Guarantee Fund (FGD) You thought the old directors and businessmen an ongoing offense of unfair fund diversion or, secondarily, an ongoing charge of unfair management. claiming them six years in prison And that to compensate about 500 million Which Bank of Spain assesses CAM’s damage for the alleged balls He said that it was financed for projects carried out by institutions and businessmen.

This is a Lawsuit filed in 2015 following a complaint by FGD for a few people CAM-funded operations from 2004 to 2009 to buy land. A procedure that instructor applied for prescription twice however, a court of the same faction that made these final decisions and appealed for the Fund’s dismissal, reopened.

as a trainer The prosecutor admittedunderstands that the facts reported should be characterized as follows: unfair management foreseeing five years laterHE FGD lawyer Carlos Gómez-Jara, thinks it is Criminal liability for continued embezzlement ends after ten years..

Operations and losses

The operation, described as a private charge (the public seeks a statute of limitations) affects CAM and the various operations it carries out. Investment and Subsidiaries Holding (TIP) Here “a company with real estate assets (usually undeveloped land) A community like TIP in which it participates as a partner and contributes to the (swollen) land financed by CAM at a higher price»as described indictment Gomez-Jara.

In this way, the participation of the participants CAM This was expressed in a binary way: as shareholder and financier, what caused iincreased risk. This is reflected in a report by the Bank of Spain, which states that these projects “suffer from a lack of rigidity in their approach and are little overseen by TIP and CAM”. all failed‘ he concludes.

The Fund states that “investments in different companies are almost 600 million, of which 464 are considered irreversible losses. Damage that needs healing Public aid injected by FGD and recorded at the State’s deficitor when CAM needs to be intervened and recovered because of the danger it poses to the Spanish financial system.

“Limited to explain”

The Court is not so clear, according to the latest rulings, which left two of the accused businessmen out of the case. Regarding the instruction to switch to abbreviated procedure, «limited to explaining different financial transactions. performed by CAM for land acquisition (…) without specifying just how financially profitable it is for those who appear as “partners” (referring to business people) but what was the alleged embezzlement or unfair management business”. In any case, he adds, if he had committed a crime, it would have already been prescribed.

For López Abad to sit on the bench for the seventh time And Third for Gil. HE the former managing director has firm faith in his credit (two years in prison allowances improperly collected by Modesto Crespo, the former head of the organization) and at the same time another Caribbean business with businessmen Juan Ferri and José Baldó Supreme is waiting. Gil was sentenced to the same punishment in the process. He also appealed on appeal.

The Supreme Court had planned to review this sentence last Thursday, but due to the arrangement of chamber studies that had nothing to do with the merits of the matter, postponed the discussion and decision.

So far, only eight of the nearly fifty former and CAM executives who have been tried in the cases brought by the ballot box administration have been sentenced to final sentences. and it was possible get money back in two processes: in one caribbean job and in one Crespo diets. Almost 13 million and 28 insured first and 600.000 Euros In one second.