Former SEPI President Vicente Fernández Accused of Continuing to Exercise Power After Resignation, Says Spanish Guardia Civil Report

The Spanish Guardia Civil’s Central Operational Unit (UCO) has concluded that Vicente Fernández, the former president of the state-owned industrial holding company SEPI, continued to exercise decision-making authority after officially resigning on October 4, 2019, according to a report submitted to Judge Santiago Pedraz.

UCO Report Details Alleged Post-Resignation Influence

The investigation, part of a broader case examining alleged illegal commission schemes tied to SEPI loans, found that Fernández “de facto” maintained control of the entity between 2020 and 2021, according to the UCO. During this period, he participated in negotiations with third parties on behalf of SEPI, accessed confidential internal documents, and issued direct instructions to senior officials, the report states.

“The collected evidence demonstrates that he continued acting as president,” the police document notes, highlighting his involvement in strategic decisions and internal operations. One instance cited involves Fernández directing Bartolomé Lora, then vice president and acting president of SEPI, to conduct specific telephone communications related to a bridge loan with Banco Santander.

Legal Framework and Confidentiality Breaches

The Guardia Civil alleges that Fernández violated Article 2.7 of Royal Decree-Law 25/2020, which mandates confidentiality for internal SEPI documentation. The report also reveals that he systematically accessed restricted information.

Broader Corruption Probe Involves Multiple Individuals

Fernández is among several individuals under investigation in the case, including former advisor Leire Díez, businessman Antxon Alonso, and former PSOE secretary of organization Santos Cerdán. The judicial probe also includes a separate investigation into alleged efforts to undermine corruption-related legal proceedings targeting the PSOE and the Spanish government.

Next Steps in the Investigation

The case remains ongoing, with the investigation open and awaiting further proceedings to clarify the scope of the actions attributed to those involved.