Bbva, within the midst of the takeover bid for Sabadell, the judiciary assaults the financial institution | EUROtoday

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While BBVA is engaged in an 11.5 billion hostile bid on rival Sabadell, a judicial tile hits the Spanish banking big. The Madrid judiciary, significantly public prosecutor Alejandro Cabaleiro, is looking for Banco Bilbao Vizcaya Argentaria to be prosecuted as a part of a broad prison investigation into alleged company espionage.

The judicial investigation

According to investigators and the documentation introduced by public prosecutor Alejandro Cabaleiro, the financial institution and a few former executives ought to be tried on fees of corruption and revealing secrets and techniques.

BBVA President Carlos Torres was not listed as a suspect, however Cabaleiro mentioned within the doc that Torres despatched emails to his executives whereas in a earlier position on the financial institution to precise curiosity within the personal dealings of acquaintances.

Torres, who joined the financial institution in 2008 and served as chief govt between 2015 and 2018, has beforehand denied being implicated.

Payments to spy on rivals, politicians and journalists

The prosecutor's transfer is a part of a years-long investigation into whether or not BBVA paid a high-ranking former police officer to spy on rivals, politicians and journalists. The financial institution and several other executives got here below formal investigation in early 2020. An investigating decide has not but determined whether or not they need to stand trial.