The Guardia Civil’s Unidad Central Operativa (UCO) says 78.3 million euros flowed into Portuguese company accounts as it investigates alleged hydrocarbon fraud linked to Víctor de Aldama and Claudio Rivas. The probe spans Europe and Asia, with investigators tracing transfers through foreign accounts and crypto wallets.
The UCO has focused on 14 companies it believes were fronts. Portugal has become a basic hub: in its latest report to Judge Santiago Pedraz, the unit said 78.3 million euros landed in Portuguese company accounts. Portuguese authorities have helped trace 56.5 million euros. The UCO is seeking access to 70 more accounts in Portugal to determine whether money was converted into cryptocurrency or sent back to Spain. UCO materials indicate that 8.8 million euros from these transfers went to three companies linked to Aldama.
The UCO describes two setups: one to carry out the hydrocarbon fraud and another to launder the profits. At the center is Villafuel, a company linked to the purchase of a luxury villa in La Línea de la Concepción, Cádiz. Reports say the villa was for former Socialist minister José Luis Ábalos. The network also includes other firms in Spain’s hydrocarbon sector. Reports from Cadena SER and elDiario.es say Villafuel operated as a fuel market operator, while seven intermediary companies were used to create fictitious supply chains and money flows.
Between 2022 and 2024, the suspected fraud may have exceeded 182.5 million euros. The UCO says some of the money moved through conventional banks, while some went to crypto exchanges. One transfer involved 213,663 euros sent in 13 payments to an Irish company active in crypto markets. Investigators believe the company is the parent of an exchange platform used by the suspects. The Guardia Civil has requested a European order to obtain full details of the transfers and identify those behind them.
The money trail also reaches Asia. The UCO found a transfer of 500,000 euros to a company in Hong Kong, raising suspicions that the money passed through several countries to conceal its origin. Investigators have also traced transfers to companies in Italy and Germany, adding to the complexity of the case.
The UCO is tracing the money across borders and through shell companies, following its movement into digital assets. The investigation concerns a criminal group suspected of exploiting gaps in international finance and the secrecy of cryptocurrency.
