Spanish Judge to Formally Probe BBVA Ex-Chairman in Spy Scandal
Spanish Judge to Formally Probe BBVA Ex-Chairman in Spy Scandal
(Bloomberg) -- Banco Bilbao Vizcaya Argentaria SA’s former chairman, Francisco Gonzalez, has been placed under formal investigation for allegedly hiring a police commissioner to spy on rivals, El Mundo reported.
Gonzalez, who left the top job at Spain’s second largest bank in January, has been called to testify on Nov. 18 by Judge Manuel Garcia Castellon, the newspaper said, citing people with knowledge of the investigation.
The move is a further blow for the lender after the same judge placed the bank itself under formal investigation in July. Alongside Gonzalez, Juan Asua, current BBVA Chairman Carlos Torres’s chief adviser, is also being investigated, according to El Mundo.
Gonzalez, Asua and former head of regulation and internal control, Eduardo Arbizu, are being investigated for bribery and improper disclosure, the newspaper reported.
A spokesman for Gonzalez didn’t respond to a phone call seeking comment. BBVA’s press office wasn’t immediately available for comment. Gonzalez said in a statement on Wednesday that he will cooperate with judicial authorities, following press reports that the prosecutor was seeking a formal investigation.
Spanish media has reported that, starting in 2004, Gonzalez personally instructed former Police Commissioner Jose Manuel Villarejo, who was moonlighting as a private detective, to tap the phones of people. They included the deputy prime minister and the economic adviser to the former prime minister, as well as the chief executive officer of construction company Sacyr SA and an executive at rival Banco Santander SA.
The bank has confirmed that it hired the agency and said that it forwarded “relevant findings” to the judge from an internal investigation led by Pricewaterhouse Coopers LLP and law firms Garrigues and Uria Menendez that lasted more than a year.
To contact the reporter on this story: Charlie Devereux in Madrid at cdevereux3@bloomberg.net
To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Ross Larsen
©2019 Bloomberg L.P.