Spainish Bank’s Managing Director Barred From Activities

Inquiring minds are reading the daily, El Mundo, about reports the Supreme Tribunal for the managing director of the banking group Santander, Alfredo Saenz, is prohibited from any banking activity. Santander bank declined comment on the breaking news:

Santander is waiting for the official deeds to be released before commenting on the matter. It was been reported that Saenz has been sentenced to 8 months in jail, a fine and a special prohibition on any task connected with banking activities due to the crimes of false accusations and trial-related fraud. The crimes he is accused of are related to the period in which Saenz was the chairman of Banesto. He has been held guilty of submitting a false report against 4 entrepreneurs of the Olabarria group, three of whom were arrested, to get an unlawful reimbursement of about 3.6 million euros. The Supreme Court sentence is harsher than the December 2009 one handed down in the first degree court , in which Saenz was sentenced to 6 months in jail and a 100,000-euro fine.

Now, that’s the way to treat a rogue bankster, er…banker.


One Response

  1. Now, that’s the way to treat a rogue bankster, er…banker.

    i am glad to hear robert say that.
    i thought i was the only one.

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