• Crisis: Fridman's formula to resuscitate Dia's business

The magistrate of reinforcement of the Central Court of Instruction 6 of the National Court, Alejandro Abascal, has declared investigated the former CEO of the Dia Group, Ricardo Currás and his number two, Amando Sánchez Falcón , for unfair administration and fraud in the accounts allegedly fattened the company's numbers in 2017 through "irregular practices" that led to a fictitious increase of 51.8 million euros.

In the car, notified this week, the instructor also directs the procedure at the request of the Anti-Corruption Prosecutor's Office against the commercial directors Luis Martínez Gallardo and Juan Cubillo , the financial director Antonio Arranz Martín and the KPMG auditor Carlos Peregrina García , who reviewed the accounts of Day put in question.

As he explains, "in order to achieve the objectives proposed for 2017, given that the figures for the year did not reach the same and there would be a significant decrease in the figure of Ebitda, Currás devised a plan - which in part involved the use of previous irregular practices - to alter certain magnitudes with direct reflection "in this balance," which gave it an appearance of solid management and reach the collection of the variable by objectives ".

The investigation detects four of these practices that it directly imputes to the former CEO of the company: forecast of unjustified income from negotiation with suppliers amounting to 6.3 million euros ; an incorrect accounting of income derived from charges of own brand suppliers amounting to 21.7 million ; the unjustified elimination of the provision of Invoices Pending to Receive for 18.3 million euros and the payment of bonuses and bonuses to staff not provisioned up to 5.5 million euros.

"The final result of the plan drawn up and executed, meant that the individual accounts of Dia in fiscal year 2017 offered an image that did not correspond to the real one of the parent company, which was transferred to the consolidated accounts of the fiscal year, as well as reflected in the projection of objectives for the year 2018 ", collects the car.

As in 2018, the number of objectives was not achieved, once Currás ceased, an investigation was initiated in Dia España to discover the causes that motivated the communication to the National Securities Market Commission (CNMV) of the need for a restatement of the 2017 accounts when those of the current fiscal year were closed.


The result was an approximate adjustment of 56 million euros in net equity as of December 31, 2017 which, from the point of view of its stock market price, meant that the share price suffered a downward variation of 42, 22% at the close of October 15 - the first relevant event - and of 24.50% at the close of October 22 - second communication to the CNMV.

"After the investigation carried out, it can be concluded that of the adjustments that were incorporated into the Financial Statements of Grupo Dia corresponding to the 2017 financial year, four of them have their origin in irregular accounting practices devised by Ricardo Currás, which, considered at the level added, they supposed an artificial alteration of the Ebitda of 2017 for an amount of 51.8 million euros, of the total of 69.7 million euros of adjustments that have been incorporated into the Annual Accounts, net of the tax effect, "concludes the instructor .

In the order, he agrees to the practice of the first proceedings and quotes on January 27 the three experts who have prepared reports on Dia's accounts in the framework of the investigation opened in the Anti-Corruption Prosecutor's Office, as he calls on the 28th as a witnesses to the workers of the mercantile Miguel Ángel Iglesias Peinado and Susana Pagés de la Peña, while they would have received instructions from Currás for the accounting maneuvers subject to the investigations.

According to the criteria of The Trust Project

Know more

  • National audience

Courts The Court of Auditors orders that the former mayor of Gandía, Arturo Torró, return 560,000 euros to the City Council

JusticeThe plot of Morodo got rid of two million in properties under investigation

Courts The judge agrees to extend the secret of actions on BBVA's contracts with Villarejo