Spanish Banker Miguel Blesa In Jail Without Bond For Eurocrisis Crimes

The former Chief Executive of Spanish Bank Caja Madrid, Miguel Blesa, has become the first Spanish banker to be jailed for his part in the country's financial crisis. Caja Madrid is now a part of the country's BANKIA SA (OTCMKTS:BNKXF).  Blesa is accused of saddling the bank with major losses after a takeover of a bank in Miami, Florida.

Bankia was taken over by Spain's government last year after a series of losses were revealed, some of which were due to the fiasco at Caja Madrid. The seizure of BANKIA...