Posts tagged ‘15mparato’

September 12th, 2013

#15MpaRato: Presents document in the National High Court to proove the preferred shares fraud


 Source: 15MpaRato blog

As many of you know, since we filed in June 2012 the #QuerellaPaRato (lawsuit against Rato), we have been presenting financial authorities like the CNMV (National Securities and Exchange Commission) such basic questions as “what are preferred shares” – that invention of Rato – or “who were they sold to” and “what were the investors’ profiles”.

Very simple questions, the result of a complex legal strategy.

Repeatedly asking what are these preferred shares was how we got the CNMV report. Now, any swindled person can use it to file a criminal lawsiut against their bank, instead of embracing an arbitrage which is nothing but a trap, since it only seeks that swindled renounce legal action (they know they would loose in a court case). The answer was what we suspected: preferred shares are a scam. But it is not the same to suspect this, to having the CNMV itself openly confess it in a report full of details.