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The National Court imputes Galán and Iberdrola suffers in the Ibex 35

The National Court imputes Galán and Iberdrola suffers in the Ibex 35

The judge of the National High Court Manuel García-Castellón has decided the imputation of the president of Iberdrola Ignacio Sánchez Galán and three of his directors, Francisco Martínez Córcoles, Fernando Becker and Rafael Orbegozo, for a continuing crime of Active bribery, crime against privacy and falsehood in commercial document, for the allegedly illegal orders entrusted to Commissioner José Manuel Villarejo.

In his car the magistrate athus accepts the request made by the Anti-Corruption Prosecutor’s Office in the framework of piece 17 of Tándem and explains that at this time of the investigation and with the measures that have already been carried out, it is pertinent, given the evidence presented, to cite Sánchez Galán and the other three directors as investigated when understanding that there are incidentally, sufficient elements of judgment to be able to connect them with the facts that are investigated in this piece.

This accusation comes after the holding of the Iberdrola shareholders’ meeting, and after a new Internal Affairs report was incorporated into the case in May in which conversations held between the commissioner and the head of Security at Iberdrola Antonio Asenjo were analyzed. In them the commissioner referred at different times to “Don Ignacio” or the “Señorito” within the framework of the ‘Arrow’ project, which dealt with the problems suffered by Iberdrola for the construction of a thermal power plant in Arcos de la Frontera (Cádiz).

In that police office, Internal Affairs gave count of up to nine unknown audio files so far and in those in which, in conversations between Asenjo – accused in the case – and the commissioner, the latter asked him to pay him more money for his work. These audios were found in the entries and records of November 2017, although until now they had not been extracted, and are related to the commissioner’s projects for the electricity company in the period from 2004 to 2006.

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The executive committee delegated by the board of directors of Iberdrola decided on May 25 to place the administrators and employees of the company, including Galán, at the disposal of the Central Court of Instruction number 6, before which the proceedings of section 17 are processed to testify and assist in the completion of the investigation.

It did so by means of a relevant fact sent to the National Securities Market Commission (CNMV), in which the energy company indicated that the highest body of the company, for “the best protection of the social interest, on the basis of confirmation of the conclusions reached in the aforementioned internal investigations and in keeping with its intention to forward any relevant information to the Court, “it adopted the decision to place the administrators and employees of the company at the disposal of the Court investigating the case.

In this way, he requested the appearance of the leadership of the energy “insofar as it deems necessary and as soon as possible”, to provide their testimony and, in this way “facilitate the completion of the ongoing investigation.”

Iberdrola shares fell 1.6% on the IBEX 35 this Wednesday to 10.64 euros per share and are among the companies that fell the most this day. Investment funds that follow environmental, social and corporate governance (ESG) criteria penalize this type of judicial news.

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