The car, which the appeal is brought by the Reform Association Participants for the Protection of Investment Funds and Pensions and the Shareholders of Mutual Funds (Active) and supersedes that of rejection of the complaint, believes that "the allegations may constitute a crime of fraud, misappropriation and corporate crime. "
The order issued by Judge Belén Sánchez Hernández and Europa Press that accessed the resource estimates for reform "in order to guarantee the right of defense of the party", but considers that the court competent to hear the question Instruction is the National Court.
addition to supporting the complaint admissible against the Santander, the car proceeds to initiate preliminary investigation and the actions necessary to ascertain and clarify the facts, the perpetrators and circumstances.
The criminal complaint is directed against the directors, and against the chief executive of Santander Real Estate , Pedro García Ruiz Olivares and against the President and Second Vice President Banif-custodian of the fund, Alfredo Saenz and Rodrigo Echenique Gordillo, respectively .
addition, the complaint civilian targets as being responsible directly or subsidiaries against Santander Real Estate, Banif and Banco Santander , and order of the Magistrate's Court 39 in Madrid requires the institution to submit to the court Cantabrian diverse documentation.
one hand, requires the fund manager, Santander Real Estate, referring the court documentation on the sale of the property on Paseo de la Castellana number 13, and to provide a relationship original detail and identify where each and every one of the participants who dropped property fund during the liquidity window of October 2008.
also requires the manager to lead the entire record developed in connection with the loan agreement amounting to 170 million euros to Euribor plus 300 basis points signed with Santander.
Banif also asked to identify all customers from its branch at Calle Serrano 92, Madrid who left the fund with the liquidity window opened in October 2008.
On the other hand, requires BBVA to provide the certificate of valuation of the mortgage loan granted on February 27, 2009 Castellana for Wealth Management.
Collaboration CNMV
pounds The car also automatically to the National Securities Market Commission (CNMV) to provide all the documentation on file of real estate investment trust Santander Banif Real Estate since its inception to the present.
be against that order an appeal for reform within three days before the same court .
by assets, which brings together those affected by the freezing of fund redemptions Banif Santander Real Estate, the group Santander "caught between 2003 and 2006, taking advantage of the housing bubble , 2,490 million euros ", ensuring that marketed a real estate investment trust indefinitely stable returns for rent.
Instead, say activists, the fund was a insttumento by which Santander extracted between 2003 and 2008, fees for more than 640 million euros who consumed 100% of net rental income and 100% of net financial income and much of the real gains from the sale of property was necessary to pay transfer fees.
A court orders the release Santander Banif who left the real estate.
In a car that now has access to Reuters, Judge Belen Sanchez has taken this decision after admitting to act on the complaint filed by the association of affected Activa, accusing the bank, among other crimes, fraud and scheming to alter the price of things, and had initially rejected on the grounds that the investigation of the facts was for the Court.
The judge understands that "in order to guarantee the right of defense" must initiate proceedings until the Court What is the supreme ruling body responsible for it.
therefore directed to Santander submitting the information of members who left the fund with the liquidity window of October 2008, when he was one of the highest returns in its history.
by assets, representing more than 400 affected, Santander provided at the time the output of "a few" participants, who were holding the 16.90% of the assets to presumably then proceed to create panic among the other guests, who arrived to seek reimbursement for more than 80% of the volume handled by the fund.
The Santander proceeded in February 2009 to ask the National Securities Market Commission (CNMV) to freeze the return of savings to more than 43,000 participants in the product.
Among other measures, the judge also asked the bank to provide the record of the loan that was granted to Banif Santander Real Estate for 170 million euros to meet your needs.
also asked the Commission National Securities Market (CNMV) to provide "all information held on file" on Banif Santander Real Estate.
The lawsuit was filed in the High Court in April 2009 by lawyers and Panea Antonio Javier Sotos, who have launched several lawsuits against the Santander.
In the lawsuit accusing the makers of the first English bank fraud, embezzlement and other crimes on the market as the insider trading scheme or to alter the free formation of prices in the market.
The lawyers, who have asked for a declaration of liability directly or subsidiary of Banco Santander and its private bank Banif, argue that the real estate fund was marketed to small investors without warning of the risks and, instead, allowed to obtain 640 million euros in commissions between 2003 and 2008.
FINANCE .
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