The Supreme Court reduces the prison sentence for the former president of Pescanova from 8 to 6 years

The Supreme Court has reduced the prison sentence handed down by the National Court against the former president of Pescanova Manuel Fernández de Sou-sa-Faro from 8 to 6 years, by acquitting him of the crimes of fraud, document falsification and applying an extenuation for undue delay .

Thomas Osborne
Thomas Osborne
15 February 2023 Wednesday 16:26
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The Supreme Court reduces the prison sentence for the former president of Pescanova from 8 to 6 years

The Supreme Court has reduced the prison sentence handed down by the National Court against the former president of Pescanova Manuel Fernández de Sou-sa-Faro from 8 to 6 years, by acquitting him of the crimes of fraud, document falsification and applying an extenuation for undue delay . However, it did confirm the rest of the sentence for manipulating the accounts to attract investors.

In this way, the Criminal Chamber of the Supreme Court ratified yesterday the sentence of the National Court to Fernández de Sousa-Faro as the author of a continuous crime of falsification in the annual accounts in media competition with an also continuous crime of falsifying information economic and financial, as well as for the crime of confiscation of assets.

The court also maintained that, jointly and severally with the Pescanova company, Fernández de Sousa-Faro must indemnify the injured investors with more than 125 million euros, whether they are companies or individuals. The magistrates of the Supreme Court acquitted the other accused of the crimes of forgery in a commercial document and aggravated fraud, for which reason they also reduced their sentences. In the case of the former financial director, Antonio Taboas, the prison sentence has been reduced from 3 years and 6 months to 1 year and 3 months.

The convictions, as necessary cooperators of the crime of falsification in the annual accounts, of several executives of the company are also maintained, although they are imposed less punishment considering that they do not have the conditions, qualities or personal relationships that justify the guilt of the author.

In addition, the Supreme Court acquits Pescanova's external auditor, as well as the audit company, BDO Auditores, and in terms of civil liability, the latter's insurer, considering that the former had a careless or inattentive conduct, but not the behavior willful misconduct that is enforceable with respect to the crimes for which he was convicted.

In the same way, the Supreme Court exonerates two companies that had been convicted as necessary cooperators of the crime of seizure of assets because it understands that the acts carried out by natural persons were not for the direct or indirect benefit of those.