25.01.2021

Practical guide to corporate crime

Por Ortega Lopez-Bago , Francisco Javier

This practical guide to corporate crimes includes the crimes of Unfair Administration and Misappropriation, although they are not strictly speaking corporate crimes. However, we consider it convenient to include them as they are offenses that normally affect the financial sphere of individuals.

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Article	Offense	Description	Penalty
290	Misrepresentation of Financial Statements	Those (…) who falsify the annual accounts or other documents that should reflect the legal or economic situation of the entity, in such a way as to cause economic damage to the entity, to any of its members, or to a third party.	Imprisonment from one to three years
291	Majority Abuse	Those (…) who impose abusive agreements, for their own profit or that of others, to the detriment of the other partners, and without any benefit to the company.	Imprisonment from six months to three years
292	Imposition of injurious covenants	Those (…) who impose or take advantage for themselves or for a third party, to the detriment of the company or any of its partners, of a harmful resolution adopted by a fictitious majority, obtained by abuse of a blank signature, by undue attribution of the right to vote to those who legally lack it, by unlawful denial of the exercise of this right to those who have it recognized by law.	Imprisonment from six months to three years
293	Denial of rights to shareholders	Those who deny or prevent a shareholder from exercising the rights of information, participation in the management or control of the corporate activity, or preferential subscription of shares recognized by law.	Imprisonment from 6 to 12 months
294	Obstruction of inspection or supervisory work	Those who deny or impede the actions of the inspecting or supervising persons, bodies or entities of entities operating in markets subject to administrative supervision.	Imprisonment from 6 months to 3 years
250	Unfair Administration	Those who, having powers to administer another’s patrimony, (…), violate them by exceeding the exercise of such powers and, in this way, cause damage to the administered patrimony.	Imprisonment from 6 months to 3 years
253	Misappropriation	Those who, to the detriment of another, appropriate for themselves or for a third party, money, effects, securities or any other movable thing, which they have received in deposit, commission, or custody, or which have been entrusted to them by virtue of any other title that produces the obligation to deliver or return them, or deny having received them.	Imprisonment from 6 months to 3 years

If this article has been of interest, we also suggest you to read the following article published on our website: Mandatory protection for whistleblowers of crimes in a company.