Julio Martínez's Connections to Venezuelan Brothers: Gold and Oil Deals Under Investigation. A Spanish investigation has uncovered years-long connections between Julio Martínez and the Amaro Chacón brothers. The focus is on gold exports, deals involving Venezuelan petcoke, and transfers through entities linked to Zapatero.
A large-scale scheme has been uncovered in Spain involving entrepreneur Julio Martínez Martínez and brothers Domingo and Guillermo Alfredo Amaro Chacón. According to investigators, their business dealings cover not only Venezuelan oil transactions, but also gold exports, stock and currency operations, as well as raw material supplies worth millions of euros. A key episode involved attempts to secure a contract for selling large batches of petcoke—a byproduct of oil refining in high demand as fuel.
According to UDEF documents, contacts between Martínez and the Amaro Chacón brothers trace back to at least September 2021. Their correspondence discussed schemes for transferring cash euros to Caracas, the sale of QWANT shares, and arrangements for the shipment of physical goods. Projects mentioned in the case materials include the 'Minerven Project,' the 'La Tortuga Project,' 'Comercialización Amarillo' (presumably related to gold), and the 'Western Atlas Resources project' (also known as the Loma de Niquel project).
Investigators are paying particular attention to Inteligencia Prospectiva, a company founded by the Amaro Chacón brothers in January 2020. Despite minimal official income and just one employee, this entity routed more than €2.5 million through its accounts. A significant portion of these funds was transferred to companies linked to former Prime Minister José Luis Rodríguez Zapatero, his daughters, and close associates. National Court judge José Luis Calama noted that the company's activities go beyond ordinary business and touch on matters of state importance.
The case materials also mention international stakeholders. For instance, Swiss trader Philip Apikian and the Chinese company China International Cultural Technology Resource Group Co Ltd actively sought to close a deal to purchase 50,000 tons of Venezuelan petcoke in late 2023 and early 2024. According to investigators, the negotiations were conducted with the mediation of Martínez and Amaro Chacón, while representatives of the Venezuelan authorities played a key role in agreeing on the terms. The correspondence mentions the need for approval from Delcy Rodríguez and the oil minister, as well as pressure from foreign buyers who were ready for face-to-face meetings and immediate deliveries.
During the Plus Ultra investigation, the court also focused on transfers from Inteligencia Prospectiva to entities linked to Zapatero. This issue had already surfaced in other cases involving transfers from Chinese companies and possible influence schemes. For example, earlier transfers to Zapatero's accounts from companies with Chinese capital were examined, highlighting the international scope of the investigation.
For reference: petcoke is a solid byproduct of oil refining, widely used in industry. Despite sanctions, Venezuela remains one of the largest suppliers of this raw material. In recent years, Spanish law enforcement agencies have paid special attention to schemes involving large transfers of funds through little-known companies and the participation of former top officials. The Plus Ultra case has become one of the most high-profile investigations in recent years, raising issues of influence, international connections, and the transparency of financial flows.
