Reuters: Bankruptcy News: Pescanova's ex-chairman charged with falsifying information

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Pescanova's ex-chairman charged with falsifying information May 23rd 2013, 16:07 MADRID | Thu May 23, 2013 12:07pm EDT MADRID May 23 (Reuters) - A Spanish High Court judge has charged the former chairman of fishing firm Pescanova, Manuel Fernandez de Sousa, with falsifying information and insider trading, according to a court document published on Thursday. Pescanova, one of the world's largest fishing firms, filed for insolvency in April and the dealings of Sousa, who sold a large stake in the firm in the months before the insolvency petition, have come under scrutiny. The company filed for insolvency on 1.5 billion euros ($1.9 billion) of debt but financial sources believe total debt is more than double that amount. Sousa was removed in April from the helm of the firm he had run for more than three decades and the High Court has now called him to testify on July 1. In a radio interview earlier on Thursday, he denied any wrongdoing. "I sacrificed everything for Pescanova. If I had not believed in this company, I wouldn't have kept my shares and I wouldn't have provided 10 million euros in liquidity," he said on Cadena Ser radio. "If I had wanted to use insider information, I would have sold everything and I would have left," he added. Sousa's lawyers were not immediately available to comment on the court ruling, while Pescanova declined to comment. Sousa could not immediately be reached for comment. ($1 = 0.7766 euros) (Reporting by Tracy Rucinski; Editing by Julien Toyer and Mark Potter) Link this Share this Digg this Email Reprints

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