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The property promoter, the Barclays Bank attorney and over a million euros from Gibraltar
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MALAGA: A property promoter and a Barclays Bank attorney have accepted suspended jail sentences and a fine in a case involving a textile factory in Malaga.
The sentence says that Cristobal P., the promoter, reached agreement with Wilfred Charles P., the Barclays Bank attorney, who was authorised to deal with a series of accounts in Marbella.
According to the tribunal in Malaga, Wilfred authorised the property promoter to use an account with the fictional name of 'Joseph M. Stump' to receive money transfers from Gibraltar.
Once the money was in Spain, it is alleged in Spanish press reports that Wilfred wrote bearer cheques which Cristobal would cash in an office of Banco de Andalucia. The cash then led to bank cheques from the Banco de Andalucia, payable to bearer or to other persons and entities with which the promoter did business.
According to the sentence, the amounts received from Gibraltar totalled 1.3 million euros. It is also said that the firm 'La Reserva de Marbella' received over a million euros, both from the Barclays cheques and other sources.
The allegations go back to 1990, with claims that there was a fraud with Hacienda, due to the non-payment of company taxes.
The case concerns a textile factory in the Intelhorce trading estate in Malaga. The prison sentences were of 6 months and there were also fines of 170,393 euros.
Other charges in this case were dropped due to the lapse of time which made them unenforceable and affecting others as well.
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