Caixa penedes directors fired for fraud

A Spanish savings bank has fired two directors and is investigating two former executives for allegedly syphoning off 20 million euros ($26.5 million) into secret pension funds, the bank said Saturday. The board of directors of Caixa Penedes bank had “required the departure” of its president, Ricard Pages, and director general Manuel Troyano. It said both men had agreed to leave, the bank said in a statement.

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