An apex court in Spain has announced a decision in which it has sentenced the chief executive of the country’s biggest bank, Santander, to six months in prison for making false accusations against its shareholder around 15 years ago.

According to the court, it has found Alfredo Saenz carried out the deception when he was head of the bank subsidiary Banesto. Moreover, Banesto has announced that it will appeal the sentence.

However, Seanz is not expected to serve any time in prison as he was no prior convictions.

He was convicted along with two others of making false accusations of fraud against four Banesto clients to force them to repay a loan of 3.6 million euros ($5.3 million) in 1994, soon after Santander took over Banesto.

They must also pay fines of 9,000 euros each, according to a copy of the ruling by the court in Barcelona..