Spain Court to Probe Bankia on Events Leading to Bank Rescue
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A Spanish judge will investigate the Bankia group and its former Chairman Rodrigo Rato after the lender needed a record government bailout.
Fernando Andreu, a judge at the National Court in Madrid, agreed to investigate a complaint made by Union, Progreso y Democracia, a left-wing party, over allegations including deception, false accounting and fraudulent administration, according to a ruling distributed by the court today. The judge will probe Bankia, its parent and 33 board members including the 63-year-old Rato.