CaixaBank has been hit with several fines totaling more than €30 million by Spain’s anti-money laundering watchdog, Sepblac, over a legacy real-estate transaction, Bloomberg reported.

The combined penalties rank among the largest-ever imposed by Sepblac. The fines are tied to a transaction carried out by Bankia, the lender CaixaBank acquired in 2021, Bloomberg reported. 

Bankia sold one of Madrid’s largest towers to an investment group, a deal that has since come under investigation by Spanish authorities, according to the report. The skyscraper was later acquired in 2016 by Inditex founder Amancio Ortega for about €500 million.

Read more at Bloomberg