Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain Judge Orders Detention of Ex-CAM Bank Executives

Source: Bloomberg - Wed 6th Nov 2013
Spain Judge Orders Detention of Ex-CAM Bank Executives

A Spanish judge ordered the detention of five former executives of Caja de Ahorros del Mediterraneo as he investigates alleged irregularities in the running of the failed savings bank.

Police have already detained two executives including former managing director Roberto Lopez Abad by order of National Court Judge Javier Gomez Bermudez, a Madrid-based court spokesman said in a phone interview today. The executives are due to appear before the judge tomorrow, said the spokesman, who asked not to be named in line with the court's policy.

The Bank of Spain said in July 2011 it would take over CAM and remove its management as losses linked to real estate loans wrecked its business. Banco Sabadell SA then agreed to buy the lender for one euro in a deal financed and guaranteed by other Spanish banks that allowed the Bank of Spain to remove CAM from public ownership.

There were no listings for Lopez Abad in the Valencia region, according to the online phone directory

Recommended Reading

Banco Sabadell Sees 1st Half Profits Rise 37%

Former Bank of Spain Boss Blames CAM Collapse on Managers

Supreme Court Rejects Appeal by Former CAM Boss

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs