Jose Luis Olivas Martinez (born 13 October 1952 in Motilla del Palancar, Cuenca) is a Spanish politician of the People's Party. He was named the third president of the Valencian Government (the first not to have been chosen in elections) when Eduardo Zaplana moved to Madrid in 2002. A year later, he was replaced by Francisco Camps, who took over the party's leadership in the Valencian Community. Olivas decided then to pursue a business career. In 2003, he was appointed president of Banco de Valencia, in 2004 he was president of Bancaja; and in 2010 vice president of

Bankia Bankia () was a Spanish financial services company that was formed in December 2010, consolidating the operations of seven regional savings banks, and was partially nationalized by the government of Spain in May 2012 due to the near-collapse ...

(a bank created by the merger of

Caja Madrid Caja Madrid, formally the Caja de Ahorros y Monte de Piedad de Madrid, headquartered in Madrid,Inicio
." ...

, Bancaja and others). Banco de Valencia went bankrupt in October 2011, and the State took control. Olivas resigned. In December 2011, Bankia declared enormous losses, and the government nationalized the entity and imposed a new direction. In May 2012, he resigned as president of Bancaja. On 29 June 2015, the

Unidad Central Operativa The Central Operative Unit (, UCO) is a specialized division of the Civil Guard (Spain), Civil Guard of Spain responsible for the investigation and prosecution of the most serious forms of crime and organized crime, whether national or internatio ...

, the serious crime division of Spain's

Guardia Civil The Civil Guard (; ) is one of the two national law enforcement agencies of Spain. As a national gendarmerie, it is military in nature and is responsible for civil policing under the authority of both the Ministry of the Interior and the Minis ...

, arrested Olivas on charges of

embezzlement Embezzlement (from Anglo-Norman, from Old French ''besillier'' ("to torment, etc."), of unknown origin) is a type of financial crime, usually involving theft of money from a business or employer. It often involves a trusted individual taking ...

and

fraud In law, fraud is intent (law), intentional deception to deprive a victim of a legal right or to gain from a victim unlawfully or unfairly. Fraud can violate Civil law (common law), civil law (e.g., a fraud victim may sue the fraud perpetrato ...

."Detienen al ex presidente de la Generalitat José Luis Olivas por estafa y malversación."
'' El Mundo''. Retrieved 29 June 2015.

References

{{DEFAULTSORT:Olivas, Jose Luis 1952 births Living people Presidents of the Valencian Government People from Cuenca, Spain People's Party (Spain) politicians Complutense University of Madrid alumni Members of the 4th Corts Valencianes Members of the 5th Corts Valencianes