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The two former chairmen of the Caja Madrid bank Bankia, Miguel Blesa and Rodrigo Rato obliged to pay a bail of 19 and 3 million Euros, the scandal of the board members’ black credit cards in banks Caja Madrid and Bankia.
Investigative Judge Fernando Andreu holds the two responsible for the use of black credit cards for a total of 86 former board members who did not have to declare their expenses and cash withdrawals. Rodrigo Rato said at the hearing that the black credit cards already existed when he took office and Miguel Blesa refers to board minutes from 1986 and argues that there is nothing illegal, Marbella property.
The excerpts show that the majority of expenditures were of a private nature and that several of the board members increased their spending with the card shortly before the bank Bankia intervening by the Spanish state. Blesa and Rato has given a deadline until October 22 to pay bail of 22 million Euro, corresponding to the amount charged by the bank black credit cards.
Used black credit card in its own restaurants
Corporate chief Arturo Fernández forced to leave several board because of the scandal with the black credit cards on Caja Madrid and Bankia.
Fernandez is one of 86 former board members in the savings bank Caja Madrid and Bankia who made great outlay with their representation cards, without accounting. In addition, he spent more than 10,000 Euros in any of his own restaurants.
Restaurant entrepreneur denies crime, but forced to resign as vice chairman of the employers’ association CEOE. He will also step down as president of Madrid’s business organization CEIM, though he postponed it later to finish the projects already underway.
Arturo Fernández has been under fire on several occasions, including after his restaurant empire found to pay many of its employees black. This scandal did not however prevent that Fernández recently re-elected as chairman of CEIM.
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