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Judge Pablo Ruz, Pablo Fernández de Sousa, Alfonso Paz Andrade and Manuel Fernández de Sousa. (Photo: Stock File)
EUR 1,200 million deposit set for Pescanova’s managers and directors
SPAIN
Tuesday, September 03, 2013, 23:50 (GMT + 9)
The judge hearing the case for the financial irregularities of the Galician multinational firm Pescanova in the High Court set deposits for a total of EUR 1,191.7 million for the executives, six directors and related companies.
The former chairman of the company, Manuel Fernández de Sousa, was imposed a deposit amounting to EUR 178.8 million while the one on the director Alfonso Paz-Andrade was EUR 125 million.
Meanwhile, the deposit for José Antonio Pérez Nievas is EUR 54.79 million, and that for de Sousa’s son and brother, Pablo and Fernando, respectively, is EUR 69.4 million.
The deposits set by Judge Pablo Ruz for Robert Albert Williams (director), Joaquin Viña Tamargo (Audit Area Director), Antonio Táboas Moure (a pensioner who used to be in charge of the Finance Department) and Alfredo Lopez Uroz (Director of Administration) also amount to EUR 69.4 million each, the newspaper Faro de Vigo reported.
The former head of Pescanova will not only face a deposit as an individual, but also those set by the National Hearing for the companies of which he is the only administrator: Inverpesca, Sociedad Gallega de Importación de Carbones, Sociedad Anónima de Desarrollo y Control and Inverlema.
Through these companies, the entrepreneur performed the sale of shares of the National Securities Market Commission (CNMV) while being aware of Pescanova’s serious financial situation.
To date there have been eight complaints and a huge amount of documentary evidence, including the forensic report issued by KPMG.
For the judge, there are “rational signs of criminality” of the defendants, the newspaper La Voz de Galicia reported.
In the judicial decree reported on Monday, Ruz pointed out that the information describing the annual accounts “did not conform to reality” and warns that the multinational firm provided “an unrealistic image of their economic and financial situation.”
On the other hand, Luxempart set the losses at EUR 52 million and the brewery firm Damm, in more than EUR 40 million from their investment in Pescanova.
The defendants are to present their statements to Judge Ruz in the High Court between 15 and 17 October while the witnesses will do so on 22 and 23 October.
Related article:
– Damm obtains less profit, driven by Pescanova’s crisis
By Analia Murias
editorial@fis.com
www.fis.com
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