Mr. Olivas' career is linked to politics and the Popular Party since he was 25 years old. Since then, he has accumulated a multitude of political charges until he became President of the Valencia Autonomous Government (however, not by popular vote, as is the current President Fabra). Afterward, Mr. Olivas has been Bancaja and Bank of Valencia's CEO until October 2011. After Bancaja merged into Bankia, Olivas became Bankia and BFA Vice President (all four banks have been intervened by the FROB). Until recently, Mr. Olivas was still in charge of an asset-less Bancaixa. When he was dismissed from Bankia and BFA in November 2011, Mr. Olivas received a €2,9 million pension plan.
Bank of Valencia's General Shareholders Board approved on May 14th 2012 an action of civil responsability against Mr. Olivas and the other board counselors picked by Bancaja.
Mr. Olivas is being accused by the magistrate of Valencia of corporate crime, forging accounts and unfair administration for the management of Bank of Valencia.