Spain’s Ex-Central Bank Governor Absolved in Bankia Case
This article is for subscribers only.
Miguel Angel Fernandez Ordonez, the former governor of the Bank of Spain, was absolved of possible criminal acts in the Bankia SA case, along with seven other central bank and regulatory officials.
Their omission of not taking action to prevent the Spanish commercial bank’s initial public offering wasn’t a criminal action -- even though its accounts may have been untruthful -- and the officials’ passivity didn’t result from jointly engaging in fraud, according to a summary of the decision by the National Court released Friday.