More than 78 million euros moved from Spain to Portugal through a network of companies at the center of a hydrocarbon fraud under investigation by the Guardia Civil. Villafuel SL, which has ties to convicted fixer Víctor de Aldama, sits basic to the scheme. The case has triggered new court and financial action.
The Unidad Central Operativa (UCO) reports that 78.3 million euros were sent from Spanish banks to Portuguese firms. Of that amount, 8.8 million landed in three companies linked directly to Aldama. Investigators say the network set up a system to cheat the Spanish Treasury and launder the proceeds through international transfers. Spanish media citing UCO documents have reported that more than 56.5 million euros were traced as received by Portuguese companies involved in the scheme.
Villafuel SL, run by Claudio Rivas, used its license as a wholesale petroleum distributor to sign a logistics deal with Exolum Corporation, which operates as a tax warehouse. Villafuel then bought petroleum products from other suppliers before staging fake deals with seven companies it controlled. These middlemen concealed the fuel’s and money’s actual path, making it harder to identify who benefited when the fuel reached service stations.
The UCO report, reviewed by elDiario.es and first reported by Cadena Ser, shows how the network worked on two fronts: evading taxes and moving large sums out of Spain. The money trail led to Portugal, where the funds reached local companies and further complicated the investigation.
Officials estimate the network’s total tax fraud at more than 180 million euros. The UCO has asked Judge Santiago Pedraz to freeze all bank accounts involved and approve further steps, including tracing any money that may have returned to Spain. It also wants Portuguese authorities to provide more records through European investigation orders, while international requests would help locate assets that may have been converted into cryptocurrency. Pedraz had previously requested the freezing of Portuguese accounts in 2024, but confirmation that the order had been enforced never arrived. The renewed request in September 2026 seeks broader asset freezes and investigative action across European jurisdictions.
This case follows a pattern seen in other major financial crimes, including the VAT fraud involving Alejandro Hamlyn. Hamlyn avoided extradition after Spanish authorities failed to act, as reported earlier.
The Villafuel operation shows how cross-border fuel trading can conceal money and how difficult it is to trace illegal cash flows within the EU. Millions are still missing, and the investigation now extends to digital assets. Spain’s justice system faces a test in dismantling these financial crime networks. The outcome will depend on sustained pressure and cooperation across borders.
