Miguel Angel Floresmain convict in the Madrid Arena case, was sentenced to four years and nine months in prison for embezzlement of more than 683,000 euros from his members of the Castellana Sports Club gymnasium, located in the Chamartín station. This is indicated by a sentence, to which Europa Press had access, in which Flores is found guilty of prosecution of the crime of embezzlementwith the mitigating circumstance of excessive delays and another offense of falsification of company accounts. The businessman’s defense told Europa Press that he would appeal the judgment.
In addition, he was acquitted of two fraud offenses and two other corporate offenses. And the court imposes the obligation to compensate him with the other convicted person. 877,882 euros to the entity Rasherman Proimbasa SL and an additional 300,000 euros to other investors.
The businessman and another former worker, sentenced to three years and nine months in prison, appeared in the dock of the Madrid Provincial Court last February for allegations of accounting irregularities linked to management and works renovation of the company. Castellana Sports Club.
Flores had already been sentenced in 2016 to four years in prison for the deaths of five young people during the party he organized on November 1, 2012 at the Madrid Arena municipal pavilion. In this trial, the Madrid Public Prosecutor’s Office did not accuse them, considering that their responsibility for the crimes of continuous fraud, embezzlement and unfair administration of which they were accused by the private prosecutor’s office was not proven. The plaintiffs requested andl payment of approximately 600,000 euros.
for illicit profit
Faced with the prosecutor’s criteria, the shareholders criticized them for having representative of various amounts of the entity for its own illicit benefit unrelated to the purposes of Canacur, taking advantage of its condition of managing the sports center. The subject of the procedure refers to one of the companies -Canacur SA- of which Flores was the sole director until June 1, 2018, when he was already serving his sentence behind bars after entering the penitentiary center a few months earlier. for the case of the Madrid Arena.
In his statement, Flores denied giving instructions to falsify accounting and giving orders to withhold information from his then associates following the capital increases which were carried out due to certain works and the poor economic situation of the company.
440,000 euros that did not exist
The magistrates underline in the judgment that the 2012 annual accounts of Canacur presented to the commercial register reflected liquidity in the amount of 453,848 euros, of which 440,000 euros did not exist in cash“. After the court confirmed that the shareholders were not aware of the absence of cash, they came to “the conclusion that this absence was not known to the plaintiff minority shareholders until the presentation of the accounts annual”.
“In fact, such an amount affected in 2012 the 66.57% of net worth and 69.19% of the amount of turnover, it is therefore a significant alteration of the accounting which means that it does not faithfully reflect the financial situation of the company”, specifies the resolution. An audit of 2014 certified that “money did not exist”, his absence not being justifiedand if it could not be recovered, it is because it was sold, and despite this its existence was maintained in the annual accounts.”
Diversion
The court considers Flores to be the author of an offense of embezzlement linked to the transfer of 440,000 euros from the Canacur Fund, carried out throughout 2012 for his own purposes, unrelated to the expenses of the Sports center of the Castellana Sports Club.
He adds that “the complaining partners were not aware of the absence of money available, made through bank withdrawals of money recorded as receipts”. but they didn’t really match likewise, or cash paid by gym clients, increasing in the years 2013 and 2014 the provisions of money that did not exist in the Canacur fund up to an amount of 683,085 euros.
