January 2, 2019 - Spanish Court dismissed case against BPA due to lack of evidence of money laundering

23 Jul

Written By DH

The Examining Magistrate's Court nº 38 (Juzgado de Instrucción Nº 38) of Spain dismissed the case against BPA, as Spanish authorities did not provide any evidence that Banco Madrid (BPA) facilitated money laundering activities. In fact, the Court stated Banco Madrid’s control procedures for the prevention of money laundering improved after BPA took over the entity.

The Court also found that the report conducted by Spain’s financial authority (SEPBLAC) concluded that Banco Madrid had money laundering control procedures in place and did not find evidence that BPA facilitated illicit activities.

January 2, 2019 - Spanish Court dismissed case against BPA due to lack of evidence of money laundering

November 20, 2018 - Spanish court found BPA’s Financial Director Santiago Rosello not guilty on money laundering accusations

July 16, 2019 - The Andorran Institute of Human Rights (IDHA) and Cierco Brothers file a complaint against Spanish officials involved in Operation Catalonia, including President Mariano Rajoy