Civil Guard and tax Agency carry out 19 registrations for hidden money plots in Liechtenstein accounts
The joint operation is under the coordination of the Anti-Corruption Prosecutor's Office. Among those registered are tax consultancies, investment agencies and a private bank, located in Madrid, Barcelona, Malaga and Zaragoza. The total amount of hidden funds could exceed 200 million euros. The investigation is based on a complaint filed by the Tax Agency regarding undeclared investments in the LGT Group of Liechtenstein.
July 15, 2008. The Civil Guard and the Tax Agency, in the so-called “Jade-Limousine” operation, led by the National Court and coordinated by the Anti-Corruption Prosecutor's Office, have carried out an investigation in which 19 searches have been carried out in Madrid, Barcelona, Malaga and Zaragoza for alleged crimes against the Public Treasury and Money Laundering in relation to banking products deposited in LGT Group in Liechtenstein.
The investigation is based on a complaint filed by the Tax Agency based on information received in the field of international collaboration in the European Union. This complaint is related to investments by Spanish citizens that were allegedly not declared to the Treasury in the LGT Group of Liechtenstein. The total amount of hidden funds could exceed 200 million euros.
The Anti-Corruption Prosecutor's Office agreed to open proceedings, entrusting the investigations to the corresponding units of the Tax Agency and the Civil Guard. The investigation has revealed the marketing of these products already mentioned through private banks and investment agencies, having also used different tax consultancies, all with the aim of providing the investor with an opaque structure that would allow them to be hidden from the Public Treasury and avoid any tax or property consequences.
It has also been possible to establish the existence of a number of individuals and legal entities who would have directed significant amounts of money through these structures to the aforementioned principality, managing these investments through foundations administered by companies located in different tax havens to avoid the relationship of the money with the investor in question.
Records
The searches carried out in the Operation by members of the Civil Guard and the Tax Agency have allowed the seizure of numerous documents definitively linking the investor with the banking products, and have been carried out in investment agencies in Madrid, Barcelona and Zaragoza; a private bank in Madrid and Malaga; various tax consultancies in Barcelona, Madrid and Marbella and in the offices of individuals and legal entities in Barcelona, Madrid and the Province of Malaga.
The operation remains open and the judicial authority has declared the proceedings confidential.