SPAIN: ‘ BANKIA COOKED BOOKS ACCORDING TO CENTRAL BANK REPORT ‘

#AceFinanceNews – SPAIN:Dec.27:Bailed-out Spanish financial giant Bankia misrepresented its accounts ahead of its doomed 2011 stock listing which coincided with suspect buying and selling of its shares, central bank experts claimed recently.

The allegations came in a report submitted to a court investigating the public listing of the group, many of whose customers lost their savings.

The financial evaluation of Bankia included in the brochure for the stock listing "did not present a faithful picture of the company", the Bank of Spain experts wrote.

They said they had discovered "inexplicable purchases" of Bankia shares and "sales immediately after the stock listing that cast doubt on the real interest of certain investors".

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