How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
...you can learn Spanish at a variety of locations across Spain, online or residential and day courses in Spain?
Regardless of your standard, and whatever level you wish to reach Don Quijote has a program to suit your needs!
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily brief -Friday 28 August 2015
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Former CAM Bank Executives accused of fraud
The former director general of Caja Mediterráneo (CAM) and the chief of its business divisions diverted funds from the lender to tax havens for their own profit and that of their associates, according to a lawsuit presented at the High Court by the current board.
Roberto López Abad and Daniel Gil Mallebrera stand accused of siphoning funds from the lender through Valfensal, a tourism promotion company 30% owned by CAM. The other 70% is controlled by hotel group Mar Confort, headed by Juan Vicente Ferri.
CAM was bailed out by the state subsequently nationalized after an audit by Deloitte. Included in the suit, the Deloitte report states that Ferri warned Gil that giving out information on Valfensal "could see you jailed."
Both Gil and López Abad, as well as the state Orderly Bank Restructuring Fund (FROB), which provided the funds for the CAM bailout, accuse Ferri and José Salvador Baldó, partners in Mar Confort, of embezzlement and fraudulent administration.
According to Deloitte, the four executives enjoyed "a notable personal and commercial proximity." The FROB complaint states that the directors benefited from "an obscure zone of management" that allowed them to lend money to Valfensal without projects without CAM requesting any independent evaluation of the deals.
The FROB has identified 5 projects that were financed in this way.
Latest News & Stories
- Guardia raids ruling Catalan party over illegal commissions
- Spain confident its Gibraltar tough policy is 'bearing fruit' and will continue
- Spain accuses suspect of running Islamic State network Morocco
- Consumption drives Spanish economy to grow in Q2
- Separatist says independent Catalonia would leave EU temporarily
- La Tomatina sets record on 70th Birthday
- Catalan citizenship offer enrages authorities in Valencia and Aragon
- Rajoy : "China volatility will not affect Spain forecasts"
- Spain, Morocco arrest 14 suspected of recruiting for ISIS
- Mosquito Virus Detected In Spain