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Europe
Spain probes executives over bank failure
Senior executives from prominent financial insitution Bankia accused of price-fixing and falsifying accounts.
Last Modified: 23 Jul 2012 16:38

Spain is launching a fraud investigation into the collapse of one of its largest banks.

A Spanish court will begin an investigation into the role of senior executives in the spectacular collapse of the Spanish bank Bankia. Senior executives at Bankia have been accused of price-fixing and falsifying accounts.

In May, as the euro crisis was escalating, Spain nationalised Bankia. In many ways, the bank's story mirrors the disastrous plight of the country’s whole financial sector.

Al Jazeera's Simon McGregor Wood reports.

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Source:
Al Jazeera
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