Spain’s Bankia told to cough up €800 million

Several former executives will have to contribute to the bill after thousands of small investors lost money when investing in the bank

LAST UPDATED: 13 Feb, 2015 @ 21:36
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PAYING UP: Rato
PAYING UP: Rato

STATE-rescued lender Bankia has been given a month to front €800 million in relation to a number of scandals.

Several former executives will have to contribute to the bill after thousands of small investors lost money when investing in the bank.

A total of 86 former employees are accused of spending €15.5 million on company ‘magic’ cards for personal expenses.

Among those accused is former CEO Rodrigo Rato, who will now have to pay up.

 

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