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Auditor of collapsed Spanish company Gowex freed on bail

18
Jul
2014

The auditor of collapsed wireless networks provider Gowex was freed on bail on Friday after appearing in Spain’s High Court as part of an investigation into an alleged accounting fraud at the company. The judge said there were signs of illegal practice in the work carried out by Antonio Diaz Villanueva for Gowex and that he had not declared his earnings from Gowex to tax authorities. Villanueva, from small firm MA Auditores, said he had carried out the work legally, court documents showed. Gowex, listed on Spain’s alternative stock exchange, filed for bankruptcy on Monday two weeks after former chief executive Jenaro Garcia Martin admitted he misrepresented its accounts for at least the past four years.

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