Zapatero denies Plus Ultra plot as judge seeks his crypto

Former prime minister José Luis Rodríguez Zapatero told Madrid’s Audiencia Nacional on June 17 that he had no role in directing the $61.5 million SEPI rescue of airline Plus Ultra. A judge has ordered police to trace and seize any Bitcoin and Litecoin linked to him.

Zapatero testified for three hours, answering only questions from the investigating judge and his lawyer. He faces charges of influence peddling, money laundering, tax fraud and smuggling related to the 2021 bailout.

He rejected allegations that he contacted government officials or airline executives about the rescue, and said he did not meet Plus Ultra’s current president until 2024. Payments highlighted by investigators were described in court as legitimate consulting fees and design work for his daughters’ agency.

Investigating Judge José Luis Calama has placed Zapatero at the “apex” of an alleged network tied to the rescue. Prosecutors say an offshore company was registered in Dubai eight days after the cabinet approved the aid and that the probe has already frozen bank accounts and is checking payments to that entity.

On May 18 Calama signed an order directing Spain’s economic crime police to trace and seize any Bitcoin and Litecoin connected to Zapatero. Any recovered tokens would be transferred to Prosegur’s high-security crypto bunker in Madrid, where keys are stored offline under a contract for judicial seizures.

Calama has led major crypto investigations in Spain, including a large fraud case affecting thousands of investors. Spanish courts have used blockchain tracing in earlier seizures and prosecutions. The country has also strengthened oversight of cryptocurrencies under recent European anti-money-laundering rules.

Zapatero offered a “voluntary universal authorization” for investigators to verify his assets and told magistrates, “I have absolutely nothing outside of Spain.” Calama has not confirmed publicly whether tracing has located any cryptocurrency wallets linked to the former prime minister.

The inquiry focuses on whether state funds were improperly directed to an airline with links to Venezuelan businessmen and whether officials or intermediaries used influence to secure the aid. The instruction phase of the investigation is ongoing.