A Spanish anti‑corruption prosecutor filed a formal request on March 18, 2026 to open a trial and impose a €181.8 million fine against Banco Bilbao Vizcaya Argentaria (BBVA) for its alleged involvement in a corporate spying scandal.
The allegations stem from BBVA’s hiring of a private investigation firm run by former police commissioner Jose Manuel Villarejo, a key figure in a broader investigation that has implicated other Spanish companies such as Repsol, CaixaBank and Iberdrola. The prosecutor’s request is a preliminary step; the High Court has not yet opened the trial, and the fine would be one of the largest sanctions ever levied against a Spanish bank for misconduct of this nature.
BBVA has repeatedly denied any wrongdoing, stating that its internal review found no evidence of spying and that the bank does not face criminal liability. The institution has also faced separate regulatory fines for GDPR violations, but those cases are unrelated to the current criminal investigation.
The potential fine and pending trial carry significant reputational and financial implications for BBVA. Investors and regulators are closely monitoring the case as part of a broader scrutiny of corporate compliance practices in Spain.
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