Filmax boss faces prison if guilty
A Catalan regional government prosecutor has asked that Filmax chairman Julio Fernandez be sentenced to six years in prison and a fine of E36,000 ($53,000) for alleged fraud committed while Fernandez headed distributor Ivex Films in the early 1990s.In the first day of hearings, the prosecutor alleged that Fernandez emptied Barcelona-based Ivex’s coffers of $69 million before the company filed for Chapter 11 in 1991. Fernandez denied the charge and argued that all creditors were paid under Chapter 11 arrangements. He said at the trial, which started Tuesday, that he had had no contact with the claimants who have brought the case against him. Filmax sources declined to comment on the trial, which was set to finish Thursday. A judge will decide sentence within one or two months.
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