Papers in bank corruption probe go up in smoke

31st March 2005, Comments 0 comments

31 March 2005, MADRID-Vital documents owned by the boss of a Spanish bank who is under investigation for alleged corruption were lost--burnt in the Windsor skyscraper blaze, sources from the US auditors Deloitte said.

31 March 2005

MADRID-Vital documents owned by the boss of a Spanish  bank who is under investigation for alleged corruption were lost--burnt in the Windsor skyscraper blaze, sources from the US auditors Deloitte said.

Deloitte is carrying out an audit of the former bank FG Valores, on behalf of Spain´s Anti-Corruption Attorney General.

The audit was started after allegations were made that there were irregularities in the sale of the former bank while it was headed by Francisco Gonzalez, now head of the BBVA bank.

But Deloitte has now said that vital documents involved in its audit were lost in the mystery blaze at the Windsor building in February and there are no other copies.

The documents were in an office on the 23rd floor of the Windsor building
in Madrid which went up in flames in fire whose cause has still not been uncovered.

Initially, Deloitte said it had recovered all its information which was stored on computers at the time of the fire.

FG Valores  is being investigated for the alleged way the company was sold to Merrill Lynch in 1996, following an investigation by the left-wing radio station Cadena Ser.

The National Commission of Securities (CNMV) started an investigation into
the sale and passed this over to the anti-corruption attorney general.

[Copyright EFE with Expatica]

Subject: Spanish news

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