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The owner of a Valencian citrus company, his two daughters and two others are on trial for punitive bankruptcy, with a deficit of 50 million euros. The group of companies specializes in producing and selling citrus fruits and is accused of misappropriating assets to avoid debts and bank loans. The Regional Court of Valencia has opened proceedings against the administrators of the Tamarit Export Group after one of the creditor banks, Iberkaya, filed a complaint regarding unpaid loans amounting to 1.8 million euros between February and November 2020 did.
The prosecutor’s office alleges that the defendant confiscated fictitious assets in order to prevent loan repayments. The entrepreneur and his eldest daughter, who ran one of the companies in the group, have similar criminal records. The public prosecutor’s office is seeking a sentence of five years in prison if there is a possibility of bankruptcy, or four years in prison if it is considered a crime of asset deprivation. The other three people involved were sentenced to three years in prison.
Also being investigated is the creation of fictitious loan agreements in which citrus exploitation licenses were sold at half price and with unfeasible repayment terms. This would have served to further conceal the defendant’s assets. The case is also connected to another ongoing investigation in Trent. The victims are located in different regions of Spain, including Castellon, Alicante, Andalusia, Tarragona and Murcia, and the fraud has affected more than 70 producers, totaling more than 770,000 euros.
Source: Levante-emv.com
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