Judge Manuel Garcia Castellón extended by six months the instruction period until 29 January 2023, underlining that the ongoing inquiry remains focused on BBVA’s alleged ties to entities connected with the former commissioner. In response to requests from the Prosecutor’s Office and BBVA’s former chief executive Francisco González, José Manuel Villarejo provided answers that aligned with the pace of the investigation, illustrating the collaboration between investigators and the bank’s top leadership as they probe complex interrelations within the bank’s network and external parties.
Central Court No. 6’s President issued a decree dated July 22 that clarified the remaining procedural steps needed to exhaust the investigation while ensuring that procedural guarantees, the right to defense, and the right to prosecute are preserved. The decree reflects a careful balancing act: as investigations widen, the judge emphasizes thoroughness and fairness, aiming to avoid premature conclusions and to allow all involved parties the opportunity to present evidence and challenge interpretations before any final determinations.
Among the matters identified as still undated is the statement under scrutiny regarding the former BBVA president Francisco González, a line of inquiry requested by the banker in a letter dated July 8. This particular thread sits at the intersection of leadership responsibility and corporate governance, with the investigators seeking to determine whether governance decisions, strategic actions, or personal ties could have influenced corporate conduct or risk management within the bank during González’s tenure.
The proceedings also include a series of testimonies and declarations from bank employees and former staff, with the aim of clarifying the terms of accounts and the framework under which transactions tied to Villarejo-affiliated entities were managed. The investigators are examining how these relationships operated, the degree of awareness among bank personnel about Cenyt’s links to the former commissioner, and whether any operations were configured to obscure the provenance or purpose of certain transactions.
Additionally, the judge rejected a formal investigation request put forward by Luis Pineda, the former head of Ausbanc, who appears as a participant in the process after filing accusations alleging collusion among the bank, the National Police, and Villarejo. Pineda’s case led to his own conviction, with an eight-year sentence for extortion against financial institutions in exchange for avoiding legal action or smear campaigns. The court’s stance is clear: it will not be swayed by perceived vendettas or unsubstantiated tactics, and it will instead require a solid evidentiary basis before expanding the probe against individuals or institutions involved.
García Castellón has stated that Pineda’s intention was to manipulate the procedure to achieve outcomes that would undermine the integrity of the process and misrepresent the facts. The judge’s position underscores a commitment to procedural rigor and to protecting the rights of all parties while pursuing accountability where credible evidence exists.
In its ongoing scrutiny of the operation known as “Trap,” the ninth separate component of the Villarejo case, the court has continued to examine allegations concerning covert surveillance activities directed at politicians, businesspeople, and journalists dating back to 2004. This phase involves assessing the involvement of the bank and whether it, or its executives, influenced or supported extralegal actions. The case has already drawn attention to how private interests and corporate power intersect with public oversight mechanisms, highlighting the fragile tension between legitimate investigative practices and potential abuses of surveillance capabilities by powerful actors.
Around mid-2019, the judge proceeded to indict both BBVA and its then-president Francisco González, alongside other executives who were already under investigation. The list of defendants included former senior managers such as a former BBVA Risk Director, Antonio Bejar, a former head of security, Julio Corrochano, and a former CEO, Angel Cano. The unfolding proceedings have kept the focus squarely on governance decisions, risk management practices, and the possible misalignment between corporate strategy and compliance with statutory and regulatory obligations. The broader context points to a sustained effort to determine whether institutional processes allowed improper influence or facilitated improper conduct within the bank’s leadership and internal control structures.