Banco Santander SA Chief Executive Officer Alfredo Saenz was found guilty of making false accusations in a case stemming from his tenure as chairman of Banco Espanol de Credito SA in 1994.

Banco Espanol de Credito, known as Banesto, will appeal the decision, which is not definitive, the retail banking unit of Santander said Monday in an e-mailed statement. The Barcelona Provincial Court sentenced Saenz and two other Banesto executives to six months in jail, the news wire Efe reported, citing the court's ruling.

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