Spain's Supreme Court orders BBVA and former chief to stand trial in espionage case
Spain's National Court has ordered a public trial against BBVA, the country's second-largest bank, and its former chief executive Francisco González on alleged charges of bribery and disclosure of business secrets in a corporate espionage investigation.
Spain's Supreme Court orders BBVA and former chief to stand trial in espionage case
Spain's National Court ruled on Thursday to open a public trial against BBVA, the country's second-largest bank, and its former chairman Francisco González. Both are accused of bribery and disclosure of company secrets as part of an investigation into corporate espionage.
The case is part of a broader investigation into several companies that contracted the services of a private detective agency headed by former police commissioner José Manuel Villarejo. The agency allegedly carried out various illegal assignments between 2004 and 2016.
Spain's Anti-Corruption Prosecutor's Office has requested a fine of €181.8 million for the bank for its involvement in the espionage scandal. Additionally, it is seeking a prison sentence of up to 173 years for González, although under Spanish Criminal Code the maximum effective sentence he could serve is limited to 15 years, according to a spokesman for the public prosecutor's office.
BBVA declined to comment on the court's decision. No member of the bank's current board of directors is implicated in the investigation. The entity had previously confirmed that it contracted the agency, but stated it had found no evidence of espionage. In its 2025 annual report, the bank argued that the actions under investigation do not entail criminal liability for the institution.
González, who was chairman of BBVA when the bank contracted the agency, stepped down from his position as honorary chairman in March 2019 to avoid damage to the entity's reputation. He has denied any criminal conduct.
This is the first time senior corporate executives will face trial in this case. The investigation has shaken the Spanish business sector since 2019 and has caused some reputational damage, though without clear effects on business operations.
Executives from Iberdrola, Repsol and CaixaBank were also investigated at some point by the National Court, but their cases were dismissed. Last year, Villarejo was acquitted for work he carried out for Repsol and CaixaBank aimed at obtaining information about the former chairman of Sacyr Vallehermoso, Luis del Rivero, between 2011 and 2012. Former mid-level executives from CaixaBank and Repsol were also acquitted.
Source: Euronext Markets
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