Miguel Ángel Flores, convicted by Madrid Arena, will be tried for fraud in his company

Businessman Miguel Ángel Flores, promoter of the party at the Madrid Arena in which five young people died in 2012, will sit on the bench again, in this case accused of alleged fraud and misappropriation in the management of a company in which was the sole administrator until he entered prison in 2018.

Oliver Thansan
Oliver Thansan
24 January 2024 Wednesday 15:57
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Miguel Ángel Flores, convicted by Madrid Arena, will be tried for fraud in his company

Businessman Miguel Ángel Flores, promoter of the party at the Madrid Arena in which five young people died in 2012, will sit on the bench again, in this case accused of alleged fraud and misappropriation in the management of a company in which was the sole administrator until he entered prison in 2018.

As legal sources have confirmed to Efe, the trial is scheduled to be held on February 17 in the Second Section of the Provincial Court of Madrid, after several previous suspensions.

Miguel Ángel Flores was the president and administrator of the Diviertt company and promoter of the Halloween party held in the Madrid Arena pavilion on the night of October 31 to November 1, 2012, in which five young people between 17 and 20 years old died. .

Flores was sentenced in 2016 to four years in prison as the author responsible for five crimes of homicide and fourteen of injuries due to serious recklessness, and the court disqualified him from organizing events during the time of his sentence.

In March 2018, the Supreme Court confirmed Flores' sentence and the businessman went to prison, from which he was released in October 2020 after almost a year in third grade.

Now Miguel Ángel Flores will return to the bench along with a partner, both accused of continued misappropriation, continued fraud, unfair administration and corporate crimes such as accounting falsehood or adoption of harmful agreements adopted with fictitious majorities.

However, the Prosecutor's Office does not consider the authorship of any crime to be proven and requests the acquittal of the accused.

In the Prosecutor's Office's brief, reference is made to the facts reported by the private prosecution (without it being clear at the moment who exercises it), according to which Flores, who was the leader of the entity Canacur S.A. from December 22, 2014 to June 1, 2018, and his partner, who was from 2012 until the first one arrived, took advantage of his positions to commit different illegalities.

The Prosecutor's Office, however, does not consider it proven that both took advantage of the remodeling works of a sports center that the entity managed at the Chamartín station, which was within its corporate purpose of operations, to seize various amounts from the entity that totaled 440,968 euros.

Nor did they subsequently expand their power of attorney to the amount of 683,085 euros.

Nor does the Prosecutor's Office see it proven that both defendants determined capital increases in the Canacur entity on four occasions (in 2012 and 2013) in order to obtain a preferential participation in it "with money from money previously appropriated from the company itself, to the detriment of the rest of the shareholders who did not have this possibility".

Nor that the defendants ordered the accounting records and annual accounts of the Canacur company to be falsified, providing the rest of the company's shareholders with falsified information on the company's economic status.