"Spanish prosecutors are probing evidence that the company made an inadequate use of public funds approved by the Spanish government on March 9, 2021, and that the bailout money was instead used to pay off previously existing loans. Plus Ultra appears as a signatory and beneficiary of loan agreements with three companies belonging to the criminal organization, and involved in sales of gold, states the documentation seen by EL PAIS."
"Last year, the Anti-Corruption Prosecutor's Office received two requests for international cooperation from France (Parquet National Financier) and Switzerland (Geneva Public Prosecutor's Office) to authorize the search of several residences located in the Spanish locations of Madrid, Pozuelo, Tenerife and Mallorca. Those officials requested assistance because they were investigating a money laundering network linked to Venezuela that also allegedly operated in Spain."
Spanish anti-corruption prosecutors are investigating whether Plus Ultra diverted 53 million in government bailout funds provided after the Covid pandemic and laundered Venezuelan funds through France, Switzerland and Spain. Police searched company headquarters and arrested president Julio Martinez and CEO Roberto Roselli as part of the operation. French and Swiss authorities requested international cooperation and searches of multiple Spanish residences linked to the probe. Documentation indicates Plus Ultra signed and benefited from loan agreements with three companies associated with the criminal organization and was involved in gold sales; prosecutors also suspect luxury watch transactions were used for laundering.
Read at english.elpais.com
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