Banco Santander SA Chief Executive (SAN) Officer Alfredo Saenz will testify in an investigation into alleged insider trading and money laundering against a former personal aide.
Saenz will appear at the national court in Madrid on July 13 to give evidence in a probe by judge Eloy Velasco into allegations against Cedric Canas, said an official for the court in a phone interview. Canas is accused of buying shares in Potash Corp. of Saskatchewan Inc. before a takeover bid by BHP Billiton Ltd. (BHP), the official said.
A Santander official declined to comment in a phone interview. Santander was one of five banks advising BHP on its failed Potash Corp. bid in 2010.
Efforts to contact Canas through the bank to seek a comment weren’t successful.
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