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SPAIN-CAJAMADRID/
RTR3FZT4
March 03, 2014
A protester shouts slogans near the High Court where Miguel Blesa, former chairman of savings bank Caja...
Madrid, Spain
Protester shouts slogans near the High Court where Blesa, former chairman of savings bank Caja Madrid,...
A protester shouts slogans near the High Court where Miguel Blesa, former chairman of savings bank Caja Madrid, is appearing before a judge, in Madrid March 3, 2014. Blesa, the ex-head of one of Spain's biggest troubled banks, was questioned by the judge behind closed doors on Monday over the sale of billions of euros in risky investments to small savers, who then lost most of their money as the financial crisis unfolded. High Court Examining Magistrate Fernando Andreu is investigating whether Blesa and other executives duped savers into buying hybrid securities known as preference shares, sold as part of efforts to boost the bank's capital and cover up solvency problems. Some 300,000 clients of Caja Madrid and another lender Bancaja lost their savings in the preference shares debacle. Bancaja and Caja Madrid were merged in 2010 with five other savings banks to form Bankia, which became Spain's biggest bailed-out bank. The placard reads: "Bankia, Fraud preference shares". REUTERS/Sergio Perez (SPAIN - Tags: BUSINESS CRIME LAW)
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