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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject6/30/2002 3:09:50 PM
From: Haim R. Branisteanu  Read Replies (1) of 436258
 
Spanish judge says bank bosses may have broken law (tax fraud of close to 1 billion euros )

June 28, 2002 05:24 PM ET Email this article Printer friendly version





MADRID, June 28 (Reuters) - An investigating judge said on Friday top executives of a Spanish bank may have illegally helped clients evade taxes by selling them certain loans in the 1980s.

Reviving a 12-year-old case, High Court Judge Teresa Palacios said in a document made public on Friday that senior managers of the former Banco Santander could have contributed to tax crimes committed by 138 clients.

After a merger, Santander has become Spain's largest bank, now known as Santander Central Hispano (SCH) SAN.MC .

SCH said in a statement it had acted legally and promised to appeal against the judge's decision.

Palacios named those who could be held to answer in the case as Emilio Botin, SCH chairman and one of Spain's most powerful businessmen, and four other former Santander executives, Rodrigo Echenique, Jose Ignacio Ucles, Lorenzo Solana Lopez and Ricardo Alonso Clavel.

Palacios gave the state prosecutor five days to decide whether to ask for the case against the former Santander executives to go forward.
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