Headlines
Spanish judge orders PM's ex-ally to be remanded in custody in graft probe
Published by Global Banking and Finance Review
Posted on June 30, 2025
Editorial & Advertiser disclosure
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
MADRID (Reuters) -A Spanish Supreme Court's investigating judge ordered ex-senior ruling Socialist Party official Santos Cerdan to be remanded in custody on Monday in a corruption inquiry that could destabilise Prime Minister Pedro Sanchez's fragile minority government.
The court denied bail for Cerdan, but did not immediately release any additional information.
The Cerdan case was the latest and most serious in a series of scandals that have left Sanchez having to apologise and fend off calls from opponents for a snap election.
Judge Leopoldo Puente is investigating allegations against Cerdan, former Transport Minister Jose Luis Abalos and the latter's aide Koldo Garcia that they received kickbacks for awarding public works contracts.
Cerdan, who resigned earlier this month from his position as the Socialist Party’s third-ranking official and lawmaker, denies the allegations. Both Abalos and Garcia say they are innocent.
His resignation followed Puente's statement citing "strong evidence" of Cerdan's possible involvement in the "improper awarding" of contracts.
Sanchez on Monday defended his Socialist Party's handling of the corruption allegations against Cerdan, saying that it had acted decisively by asking him to resign.
"Justice must determine the responsibilities that Santos Cerdan may have," Sanchez told reporters during a summit in Seville.
(Reporting by Emma Pinedo; Editing by Andrei Khalip and Alex Richardson)