Mario Conde

Passions

Vocation

Lifestyle

Spanish lawyer and financier known as "The Shark," found guilty of fraud and embezzlement as the chairman of Banco Espanol de Credito, known as Banesto. This conviction was his second for bank fraud. Conde started his career as an attorney and made a spectacular rise in finance. In July 1987 he bought a four percent share in Banesto with proceeds from the sale of another company he owned. His share earned him a seat on the board of directors, and six weeks after its purchase he maneuvered himself into the chairman of the board spot. In 1993 Banesto collapsed with $4 billion dollars in debts and the Bank of Spain removed Conde and took control. He and other members of the board were accused of fraud and embezzlement. He was convicted in 1998 and served only 16 months of his 4-year sentence, getting off early for good behavior. After his release from jail, he began publishing a glossy monthly magazine entitled "MC" (his initials) as self-promotion. He made a failed run for Prime Minister as well. He has been described as "symbolic of the new affluent and sophisticated Spaniards of the 1980s, not afraid to flaunt their wealth after the austere years of General Franco’s dictatorship." He was in court again in December 1997 for the beginning of a two-year trial over his alleged role in the near collapse of Banesto, the country’s biggest bank. He was convicted on 12/3/1999 and sentenced to ten years in prison. He was acquitted of six other charges in the trial, the longest in Spanish legal history.