The Art Newspaper

Fraud charges at Guggenheim Bilbao

From issue 191, May 2008
Published online 1 May 08 (News)

LONDON. The Guggenheim Museum in Bilbao has fired its chief financial officer for allegedly embezzling almost E500,000 over a 10-year period. On 16 April the museum initiated legal proceedings against Roberto Cearsolo Barrenetxea for “financial and accounting irregularities”. According to the museum, Mr Barrenetxea began funnelling funds into his his personal bank account in 1998, one year after becoming the institution’s financial head. The Guggenheim launched an internal investigation into its finances on 8 April after a regional financial tribunal requested financial documents related to the museum’s subsidiaries. E.S.

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