UCO Investigation Focuses on Key Madrid Property

The Spanish law enforcement, specifically the UCO (Unidad Central Operativa), has centered its investigation on a Madrid apartment linked to José Luis Ábalos, a former minister under Pedro Sánchez. This property, located on Humilladero Street, has emerged as a focal point in the ongoing inquiry into alleged fund diversion and real estate dealings.

Complex Financial Transactions Surrounding the Property

The details surrounding the apartment’s acquisition and subsequent use are complex. Ábalos and his then-wife, Carolina Perles, acquired the property. Intriguingly, the mortgage obtained considerably exceeded the property’s purchase value. Following the purchase, Koldo García izaguirre, a key advisor to Ábalos, rented the apartment. This arrangement raises questions about potential financial benefits derived from García Izaguirre’s position.

Property as Headquarters for Ábalos’ son’s Company

Adding another layer to the complexity, the Humilladero Street apartment also served as the registered office for a company belonging to Ábalos’ son, Victor. This company’s activities reportedly align with those of the Fiadelso Foundation, an entity linked to Ábalos and currently under investigation by the Supreme Court for potential fund diversion. The foundation has also been linked to real estate acquisitions in Peru.

Financial Discrepancies Highlighted by UCO Report

A recent UCO report sheds light on the financial discrepancies surrounding the property. The report details the property’s registration information, including its cadastral value of €45,578.25. The UCO report states:

on January 14, 2010, Ábalos and Carolina acquired this property for a sale value of €161,500.00. That same day,they secured a mortgage for €200,000.00, exceeding the purchase value.
UCO Report

The report further elaborates on the mortgage details:

The mortgage loan was secured using two properties as collateral: the Humilladero Street apartment, valued at €118,000.00, and a property in Valencia, valued at €82,000.00.
UCO Report

Rental Agreement and Investigated Individuals

the UCO investigation also revealed that Koldo García Izaguirre resided at the Humilladero Street apartment while serving as an advisor. He reportedly paid Ábalos a monthly rent of €950. Patricia Uriz García, García Izaguirre’s partner, who is also under investigation in related proceedings, was also registered at the same address.

Son’s Companies and Alleged Illegal Commissions

The apartment’s use extends to serving as the registered office for two companies linked to Ábalos’ son, Victor: Commercial External Program Consulting and Projects and Special Constructive Developments. These companies were identified by Víctor de aldama as being involved in an alleged scheme of collecting illegal commissions from public works. notably, External shares the same purpose as the Fiadelso Foundation, which received €5.5 million in subsidies during José Luis Rodríguez Zapatero’s management and is connected to property acquisitions in Peru.

Ongoing investigation and Potential Implications

The UCO’s continued focus on the Humilladero Street apartment underscores its meaning in the broader investigation into José luis Ábalos’ alleged real estate scheme and potential fund diversion. The intricate web of financial transactions, rental agreements, and company affiliations raises serious questions about openness and potential conflicts of interest. as the investigation progresses, further details are expected to emerge, possibly leading to significant legal and political ramifications.