Santander CEO pardoned for false accusation

The Spanish Cabinet on Friday decided to issue a pardon to Banco Santander Chief Executive Alfredo Saénz for his conviction for false accusation.

The pardon was granted despite a recommendation by the Supreme Court that there were no "reasons of justice or equity" to pardon Sáenz, who received a three-month jail term and suspension from his duties at Santander for the same period for the offense.

Sáenz was convicted of falsely accusing three businessmen of fraud in connection with bank loans.

The case dates back to 1994 when Santander unit Banesto presented allegations of fraud against businessmen who owed money to the bank. The accused in turn filed a counter-suit claiming false accusation.

A Barcelona court in 2009 found Sáenz guilty of that accusation and sentenced him to six months and one day in prison. The Court ruled that Sáenz knew the accusations were false and had pursued them with the sole purpose of putting the pressure on the businessman to return a loan to a company in which they were minority shareholders.