Former Spanish Prime Minister José Luis Rodríguez Zapatero has been placed at the center of a transnational corruption investigation involving the looting of Venezuelan state assets. A court ruling identifies the former leader as the “vertex” of a network capable of influencing foreign authorities and utilizing companies to move and hide funds.
The investigation reveals a high level of cooperation between the United States and Spain. The U.S. National Security Investigations agency provided the Spanish National Police with phone extractions from a device belonging to Rodolfo Reyes Rojas, a key figure in the case.
A Strategic Coordination Hub
According to the court, Zapatero exercised “strategic leadership” and a “superior coordination function” from his office in Ferraz. This location is described as a “coordination center” where instructions were issued and documents prepared to benefit third parties.
The network reportedly maintained contacts with economic operators and authorities in Venezuela, China, and the United Arab Emirates. These operations involved high-value international transactions linked to gold, currency, share trading, and oil.
The mention of oil connects the network to corruption within PDVSA, Venezuela’s state oil company. Zapatero, who has traveled to Venezuela more than a hundred times since leaving office, has consistently maintained that his goal was to negotiate the release of prisoners and promote national concord.
The Plus Ultra Connection
The airline Plus Ultra is a central element of the probe. The company received a 53 million euro public rescue from the SEPI during the pandemic after traditional banking routes failed.
The court suggests that Plus Ultra executives sought “channels outside legally established routes” to secure this funding, primarily through Zapatero. Internal communications mention paying those who could “pull the string” or requesting that Zapatero speak with someone at the SEPI.
The investigation suggests the airline may have been used to return loans to companies linked to an international money-laundering network. These funds are believed to originate from the sale of gold from the Bank of Venezuela, PDVSA funds, and diversions from the CLAP food program.
The Money Trail and Key Figures
Financial records detailed in the ruling show a flow of funds into Zapatero’s immediate circle. Plus Ultra reportedly made direct payments of 598,910 euros and indirect payments of 382,602 euros through advisory contracts and shell companies.
Specific payments were traced to Zapatero and “Whathefav,” a company owned by his daughters. Analysis Relevante reportedly paid 490,780 euros to Zapatero and 239,755 euros to Whathefav. Gate Center sent 352,980 euros to Zapatero and 171,727 euros to Whathefav, while Thinking Heads remitted 681,318 euros to the former leader and 12,297 euros to the company.
Other key figures include Manuel Fajardo, described as “ZP’s piece in Venezuela,” and Julio Martínez Martínez, identified as the former Prime Minister’s lieutenant. Rodolfo Reyes Rojas is identified as a de facto shareholder of Plus Ultra.
International Implications
The U.S. Treasury, via FinCEN, linked a Plus Ultra transfer of over 519,000 dollars to a Swiss account. This account was used to pay a financial intermediary linked to Venezuelan oil corruption and Alex Saab, whom Washington considers a frontman for Nicolás Maduro.
Saab is currently prosecuted in Miami for money laundering involving the CLAP program and PDVSA. The overlap between the Spanish Plus Ultra case and the U.S. Investigation into Saab highlights a shared documentary trail of looted funds.
Given the active cooperation of U.S. Federal agencies, this investigation could lead to further international legal actions. Future developments may depend on whether more financial links between the SEPI rescue and Venezuelan assets are uncovered.
Frequently Asked Questions
What was the role of the United States in this investigation?
The U.S. National Security Investigations agency provided the Spanish National Police with phone extractions from a mobile device belonging to Rodolfo Reyes Rojas.
How is Plus Ultra linked to the corruption allegations?
The airline received a 53 million euro rescue from the SEPI. Investigators suspect the company was used to channel funds from the looting of Venezuela, including gold sales and the CLAP food program.
What payments are linked to Zapatero’s family?
Payments from companies like Analysis Relevante, Gate Center, and Thinking Heads were made to Zapatero and Whathefav, a society owned by his daughters.
How should international cooperation between security agencies impact the prosecution of high-level political figures?
