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    Dirty cop completes jail term in Spain

    Saturday, March 20, 2010, 01:42 PM [General]

    MADRID – A former Spanish police chief convicted of embezzling the equivalent of euro10 million ($14 million) became a free man Friday after serving 15 years in prison, and immediately faced — and dodged — the question on many Spaniards' minds: where'd he stash the money?

    Luis Roldan, 66, declined comment on that part of his saga as he left a halfway house where he has served the last five years of his sentence under a furlough program in the northeastern city of Zaragoza.

    "I paid for what I did," said Roldan, who is arguably one of Spain's most unpopular people. He symbolized a period of corruption and greed within the political and financial elite that emerged during Spain's transition to democracy, after the death of dictator Gen. Francisco Franco in 1975.

    "If you will, please do not prolong my lack of freedom," Roldan told a gaggle of reporters, then boarded a municipal bus to go to a small apartment his owns in Zaragoza.

    Roldan is alleged to have used front men to squirrel away the money he embezzled and invest it in real estate and other property air conditioner. Spain's tax department has recovered less than 10 percent of the booty, according to the newspaper El Pais.

    Roldan was convicted in 1998 and sentenced to 28 years in prison, but got time off for good behavior and for taking courses while in prison. He had spent a few years in prison awaiting trial.

    His case was part of a wave of corruption scandals that helped bring down then-Prime Minister Felipe Gonzalez in elections held in 1996, ending 13 years of Socialist rule.

    Roldan was the first civilian to lead the Civil Guard, a paramilitary force that falls under the Interior Ministry. He had even been tapped as a possible interior minister, until he resigned in disgrace in 1993 shortly after a newspaper reported he had a hidden fortune. He fled Spain in 1994 only to be nabbed in Laos 10 months later.

    Dirty cop completes jail term in Spain

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    Nabors, Baker Hughes, BJ Service Lag Oil Services

    Friday, March 19, 2010, 04:51 AM [General]

    NEW YORK -- Nabors Industries fell 4.9% to $20.62 as the laggard in the Philadelphia Oil Service Index on Thursday. Baker Hughes dropped 4.6% and BJ Services dropped 4.2%. Earlier in the day, analysts at UBS reiterated its neutral rating on the sector and said the sharp ramp up in land rig counts could flatten out or decline in the second half of 2010. "After a strong start to the year with the natural gas rig count up 40% off its July 2009 bottom we believe the rate of change will begin to slow over the coming months," UBS said installment payday loans. "More importantly, we believe there is a growing risk for a flattening or double dip in the U.S. land gas rig count if gas production begins to be added late this year and natural gas prices soften."

    Nabors, Baker Hughes, BJ Service Lag Oil Services

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