Santander, Spain  - A court in the northern Spanish city of Santander has ordered the release of suspected swindler Jose Perez Diaz, dubbed the Spanish Madoff, who was captured in Mexico after 18 years on the run, the court announced Tuesday.

The charges against Perez Diaz, known as Pepe el del Popular, 57, had come under the statute of limitations, the court said.

Perez Diaz was one of Spain's most wanted fugitives, with media referring to him as an "early Madoff" - after confessed US financial fraudster Bernard Madoff.

Santander, Spain - Spain's Banco Santander is considering legal action against alleged Wall Street swindler Bernard Madoff, who caused losses worth 2.3 billion euros (3 billion dollars) to Santander clients, chairman Emilio Botin said Monday.

Santander was "analyzing all aspects related to this subject," Botin said on announcing that shareholders had approved a capital increase to finance the acquisition of nearly 76 per cent of Sovereign Bancorp.

Santander, Spain - The northern Spanish city of Santander on Thursday began removing a statue of General Francisco Franco, the last remaining one of the 1939-75 dictator on horseback which remained in a public place.

Under the 2007 Law of Historic Memory seeking to restore the honour of Franco's victims, tributes to the dictatorship have to be removed.

The Santander authorities said the statue would be placed in a future history museum.

The Association for the Recovery of Historic Memory (ARMH) representing Franco's victims welcomed the removal of the statue.