A Spanish judge says BBVA should be put on trial for corporate espionage

Signage outside a branch of Banco Bilbao Vizcaya Argentaria SA (BBVA) in Barcelona, Spain, on Wednesday, May 1, 2024. BBVA informed Banco Sabadell SA that it is interested in exploring the possibility of acquiring the company, which could be one of the largest European bank offerings in the years . Photographer: Angel Garcia/Bloomberg, Bloomberg

(Bloomberg) — Banco Bilbao Vizcaya Argentaria SA should face trial under criminal investigation over allegations of corporate espionage, a Spanish investigating judge said.

According to Thursday’s ruling, National Court Judge Manuel Garcia Castellon proposed that BBVA and its former president, Francisco Gonzalez, stand trial at the conclusion of an investigation that began in 2018. The judge found that there were indications of the crime of bribery and revealing secrets.

Last month, the prosecutor also said the bank should be brought to justice. The judge’s decision can be appealed. A BBVA spokeswoman declined to comment on the matter.

BBVA is under investigation over alleged payments to a former senior police official to spy on rivals, politicians and journalists. In early 2020, a formal investigation was launched against the bank and several of its executives.

–With help from Jorge Zuloaga.