Thousands of small savers were persuaded to buy shares in Spanish lender Bankia/BFA when it was floated on the stock market in July 2011, only to see their investments all but wiped out in less than a year.
Now, a Spanish investigation court (Audiencia Nacional) has opened a fraud case (no. DPÂ 59/2012)Â against former executives of state-rescued lender Bankia, a bank which is in line for the biggest share of an EU bailout.
The lawsuit was brought by UPyD, a small Spanish political party, and accuses 33 officials of fraud, price-fixing and falsifying accounts.
Under Spanish law, the crimes carry jail sentences ranging from six months to six years, and the right to compensation for the buyers of such shares.
If you invested in shares in the course of Bankia´s IPO on July 20, 2011 and have not hired a lawyer yet, we recommend you do to so as soon as possible to submit a petition before such Court in order to assert your right to compensation .
Our firm provides legal advice and representation to a number of hoodwinked savers, by filing motions on their behalf before the Audiencia Nacional court. If you have been a victim of this fraud, please contact us for a customized quote.