EUobserver / Top EU banker in corruption scandal

The vice-president of the European Investment Bank, Magdalena Alvarez, is embroiled in a corruption scandal in Spain, reports AFP

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13/04/2014

The vice-president of the European Investment Bank, Magdalena Alvarez, is embroiled in a corruption scandal in Spain, reports AFP. Alvarez, former public works minister, is alleged to have a role in using a regional development fund to pay bogus severance payments to dozens of people. Over €140 million was stolen.