José Luis Olivas Explained

Honorific-Prefix:The Right Honourable
José Luis Olivas
Alt:Jose Luis Olivas Martinez signature
Caption:Jose Luis Olivas Martinez signature
Office:President of the Valencian Government
Term Start:24 July 2002
Term End:20 June 2003
Predecessor:Eduardo Zaplana
Successor:Francisco Camps
Birth Date:13 October 1952
Birth Place:Motilla del Palancar, Spain
Nationality:Spanish
Party:PPCV
Alma Mater:Complutense University of Madrid

Jose Luis Olivas Martinez (born 13 October 1952 in Motilla del Palancar, Cuenca) is a Spanish politician of the People's Party. He was named the third president of the Valencian Government (the first not to have been chosen in elections) when Eduardo Zaplana moved to Madrid in 2002. A year later, he was replaced by Francisco Camps, who took over the party's leadership in the Valencian Community. Olivas decided then to pursue a business career. In 2003, he was appointed president of Banco de Valencia, in 2004 he was president of Bancaja; and in 2010 vice president of Bankia (a bank created by the merger of Caja Madrid, Bancaja and others).[1]

Banco de Valencia went bankrupt in October 2011, and the State took control. Olivas resigned.[2] In December 2011, Bankia declared enormous losses, and the government nationalized the entity and imposed a new direction.[3] In May 2012, he resigned as president of Bancaja.[4]

On 29 June 2015, the Unidad Central Operativa, the serious crime division of Spain's Guardia Civil, arrested Olivas on charges of embezzlement and fraud.[5] [6] [7]

Notes and References

  1. Web site: Biography of Olivas in www.mediterranea.org.
  2. Web site: Banco de Valencia: Chronicle of an announced bankruptcy. 13 November 2011 . .
  3. News: Olivas resigns as number two of Bankia after the scandal of the collapse of Banco de Valencia. . 21 November 2011 .
  4. Web site: Olivas convenes urgent Council to resign as President of Bancaja. .
  5. "José Luis Olivas y Domingo Parra, detenidos por estafa y malversación por los negocios de Bancaja en el Caribe." Levante-EMV Retrieved 29 June 2015.
  6. "Detenido el expresidente de la Generalitat valenciana José Luis Olivas." El País. Retrieved 29 June 2015.
  7. "Detienen al ex presidente de la Generalitat José Luis Olivas por estafa y malversación." El Mundo. Retrieved 29 June 2015.