The former financier of García Carrión concealed operations contracts with the bank from the group. The company explains that these operations will not have an impact on its accounts.
Justice has been clear. The former financial director of García Carrión, Felix Villaverde carried out an “unauthorized speculative operation” through different banks, which, although not mentioned in the judgment, would have been BNP Paribas and Goldman Sachs. The manager was fired after almost 30 years with the company once the alleged irregularities were discovered . In fact, Villaverde had no powers in the company since 2018.
The Madrid Social Court has ruled that it was a proper dismissal. “Few clearer cases of transgression of contractual good faith than this we can see. There is an absolute bankruptcy of trust, irreparable, which can only be sanctioned with dismissal, which must be declared appropriate, ” says the sentence.
García Carrión will claim financial compensation for the losses caused illegitimately by BNP Paribas, in the amount of 75 million and for the profits obtained at his expense and without authorization. From the company they explain that these unauthorized operations will not have an impact on their income statement given that they have solid own funds. The Justice has deemed each and every one of the alleged facts proven “through solid and effective documentary, witness and expert evidence.”
The owner of Don Simón maintains that financial institutions have breached banking regulations (MIFID) and have marketed speculative derivatives “poorly” to a non-expert client, taking advantage of the “disloyalty” of her former financial director and her son.
The IMF already warned of this type of banking operations in a report (Randall Dodd) that called these products “exotic” and estimated that the losses of companies in countries such as Brazil, Poland, China, Mexico, South Korea and Japan already they exceeded 530,000 million dollars.
The ruling establishes that the financial entities involved. such as BNP Paribas or Goldman Sachs, have failed to comply with the applicable banking regulations, so these facts have been made known to the Bank of Spain and will be communicated to the respective European regulators.
The investigating court number 2 of Jumilla, in an order dated February 26, has admitted for processing, on the other hand, the complaint of García Carrión both against Félix Villaverde, the former financial director, and against his son Carlos Villaverde, and conra ” those banks that have carried out a speculative operation with unauthorized derivatives and alien to García Carrión’s business, as civil liability, “according to the company.