MADRID, May 16 (Reuters) - The former head of Spanish bank Caja Madrid, now part of nationalized lender Bankia, was remanded in custody on Thursday over accusations of irregularities in the acquisition of a U.S. bank in 2008, a court statement said.
“The magistrate in Madrid Court no. 9 has ordered Miguel Blesa be remanded in custody, with bail set at 2.5 million euros ($3.2 million), for the acquisition of Florida City National Bank,” Madrid’s High Court said in a brief press release.
The statement provided no further details and Blesa’s lawyer could not be immediately reached for comment.
Caja Madrid, of which Blesa was chairman from 1996 to 2009, paid $927 million for 83 percent of Florida City National Bank in 2008 then bought the remaining stake at a later date for an undisclosed amount.