June 28, 2017 - Spanish court cleared Banco Madrid and BPA of money laundering charges

The Magistrate of the Commercial Court No. 1 of Madrid (Magistrado del Juzgado de lo Mercantil Núm. 1 de Madrid) “absolved and dismissed” BPA from all claims against them raised by Spain’s Public Prosecutor. The judge found that the investigation conducted by Spanish authorities did not provide evidence of any crimes or offences committed by BPA regarding money laundering.