Spain is witnessing a new wave of high-profile investigations into suspicious financial flows between the major construction company Acciona and several affiliated entities. The Guardia Civil insists on a thorough review of the banking activities of Accionaβs former top executives and the cooperative Erkolan, which investigators believe could be a key link in a complex scheme to siphon off funds.
At the center of the probe are three former Acciona executives: former CEO Justo Vicente Pelegrini, as well as former regional directors Tomas Olarte (north) and Manuel JosΓ© GarcΓa Alconchel (south). Investigators are demanding full disclosure of all financial products where they held ownership, representation, or any authority. The reason: suspicion of involvement in manipulations with public contracts allegedly benefiting Acciona.
Financial ties
The cooperative Erkolan plays a special role in the investigation due to its close links with Antxon Alonsoβa partner of Santos CerdΓ‘n, the former organizational secretary of PSOE. It was found that CerdΓ‘nβs sister, BelΓ©n CerdΓ‘n, had worked in Erkolan. Investigators believe this cooperative could have been used to channel payments intended as her salary, but the amounts involved have raised questions.
According to case materials, from June 2020 to May 2025, Erkolan received over 367,000 euros from Servinabar. In turn, this company received significant funds from Acciona and its affiliated enterprises. Investigators are convinced that more than 75% of Servinabarβs income is directly linked to transfers from Acciona or its subsidiaries, as well as from companies involved in joint projects with this construction giant.
Transfer Scheme
In November 2025, the court received a detailed report analyzing the financial flows between Acciona and Servinabar. That was when investigators first noticed Erkolan as a possible link in the chain of fund withdrawals. The new request from the Civil Guard aims to obtain expanded information not only on the banking operations of former Acciona executives, but also of the cooperative itself.
In a document submitted to the Supreme Court, investigators are requesting a comprehensive review of all accounts where former Acciona top managers could have been owners or had access. They propose to apply similar measures to Erkolan to determine exactly how the funds received were distributed and what purposes they were used for.
Payment Issues
Particular suspicion arises from the fact that a significant portion of the transfers to Erkolan accounts may have been related to salary payments to SedrΓ‘n’s sister. However, the amounts listed in the documents far exceed the standard wages for such positions. This has led investigators to suspect that these payments could have concealed other financial operations, such as the distribution of commissions or kickbacks.
The story becomes even more acute amid suspicions that SedrΓ‘n and his circle may have used a complex network of companies and cooperatives to launder income gained from manipulating government contracts. Investigators do not rule out the possibility that this scheme could have been operating for several years, involving not only Acciona but also other entities connected to major infrastructure projects.
Investigation widens
So far, none of the individuals involved have officially admitted guilt, and representatives of Acciona and Erkolan are refraining from comment. Nevertheless, the Guardia Civilβs request to expand bank investigations underscores the seriousness with which authorities intend to pursue the case. In the coming months, new high-profile revelations are expected, and more names may appear on the list of suspects.
The situation surrounding Acciona and its affiliated companies has already sparked widespread public debate. Many observers point out that such schemes, if proven to exist, may be just the tip of the iceberg in Spainβs system of government contract distribution. Questions remain, and it seems that answers are only beginning to emerge.
