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Article: Escala Group Announces Criminal Allegations by Spanish Authorities Against Former Company Executives Based in Spain.
- Article from:
- Business Wire
- Article date:
- February 5, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Escala Group, Inc. (Pink Sheets:ESCL) today announced that, as part of the investigation in Spain into alleged criminal activity in connection with the operations of Afinsa Bienes Tangibles, S.A. ("Afinsa"), the Company's majority shareholder and formerly its major customer, Spanish public prosecutors have now made allegations of wrongdoing against ten other individuals, including two former officers of the Company based in Spain.
Esteban Perez, formerly the Chief Corporate Strategy Officer of the Company and formerly Chairman of its Board of Directors, and Ramon Egurbide, formerly the President of the Company's European operations, are alleged to ...