Jochen Sanio (d), patron of the German Financial Markets Authority (BaFin), Franz-Christoph Zeitler and Vice President of the Bundesbank , July 23, 2010 in Frankfurt (DPA / AFP / File / Boris Roessler)
The German judicial inquiry into the former head of the German Financial Markets Authority, the BaFin, the suspected of illegally lobbied for a bank branch extends credit to its parent, daily Handelsblatt reported on Tuesday.
Prosecutors in Cologne (West) seeks to demonstrate that Jochen Sanio boss the BaFin in 2000-2011, influenced in 2009 on the approval of a loan of 100 million euros BHF Bank to its parent company Sal. Oppenheim, then in big trouble.
According to investigators, the loan should never have been granted because the risk of failure was too high, said Handelsblatt. The newspaper says further that the CFO of BHF at the time, Ingo Mandt, had raised the legal risks of such an operation and resigned, seeing that he was ignored his warnings.
When asked by the newspaper, the lawyer for Mr. Sanio, Ulrich Sommer, confirmed the investigations, appearing confident about the outcome. “I am absolutely convinced that they will be abandoned,” said he told the business daily, saying the investigation was initiated as a precaution, just before the statute of limitations. “
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