A shot from a firearm to his chest.
Bloomberg News reports that Miguel Blesa, the former chairman of Caja Madrid who for many Spaniards came to represent the management excesses that helped cause the country’s banking crisis, was found dead with a gunshot wound, police said.
Blesa’s corpse was found at a hunting estate in the southern province of Cordoba with a shot from a firearm to his chest, a spokeswoman for the Guardia Civil said by phone. A worker from the estate called the police at about 8 a.m., the spokeswoman said. Police have opened an investigation into the death of the banker, who was 69.
As former Chairman of Caja Madrid for more than a decade to 2010, Blesa oversaw a savings bank whose financial woes forced it into a merger with six other lenders to form Bankia SA, which in turn was rescued with 22 billion euros ($25.4 billion) in state aid. He was handed a six-year jail term in February for misusing his Caja Madrid corporate credit card and was appealing it at the time of his death.
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