The Supreme Court confirms the conviction of the former directors of the CAM for the allowances but reduces their prison sentences

The conviction of the former president of the Modesto Crespo entity remains.

The Supreme Court has decided to uphold the sentence to the directors of the defunct Mediterranean Savings Bank (CAM) for designing a scheme that allowed the former president of the entity Modesto Crespo collect per diem for his work as president of a society called Tinser Wallet that he had no activity whatsoever. However, it has lowered the sentences of all those convicted with the exception of Crespo.

As explained by the high court, the general director of the entity proposed to his remuneration committee that a board of directors be created for Tinser Cartera and put Crespo in charge with a remuneration of 300,000 euros per year.

To this end, the CAM council accepted an “unacceptable proposition” that violated the statutes of the entity and its remuneration policy, as reported by the Supreme Court.

An action that Crespo himself recognized in the framework of the judicial process, as well as He confessed that he did not participate in making any decision regarding the administration of Tinser Cartera.

Thus, it was recognized as responsible for a aggravated misappropriation offense, although with the mitigating circumstances of confession and reparation of the damage, since Crespo has already paid 200,000 euros to the Alicante Provincial Court and has provided a payment schedule to satisfy the remaining 400,000 euros within three years. For this crime he was sentenced to nine months in prison and five months of fine.

For its part, Roberto López Abad, former director of the CAM, was sentenced to two and a half years in prison and an eight-month fine; Antonio Gil-Terrón, vice president of the entity, the former directors Luis Esteban Y Martin Seville and the former secretary of the council José Forner They received sentences of a year and a half in prison and a seven-month fine.

Reduce some penalties

The Supreme Court has decided to dismiss the appeals presented by these former heads of the CAM, although it has agreed to reduce the penalty of the last four to one year in prison and six months’ fine “In the absence of justifying reasons” to establish these penalties, as there were no aggravating factors.

In addition, the Supreme Court has lowered López Abad’s sentence to two years in prison and a seven-month fine.

“It is recognized that there is an articulation of the plan orchestrated under the direct intervention of the CEO of the entity and the remuneration committee that were an essential part, as well as the secretary of the board who wrote the minutes hiding such information in the meeting from the rest of the directors who ignored everything that was being done“Informs the high court.