A Ferrari F12 confiscated from Víctor de Aldama will be auctioned for €241,613. The car is linked to a major VAT fraud investigation in the hydrocarbon sector. Three Land Rovers from the same case are also up for sale.
Spain’s Ministry of Presidency, Justice and Relations with the Courts plans to auction a Ferrari F12 seized from businessman Víctor de Aldama for €241,613. The sale is part of a broader effort to recover assets in a VAT fraud case involving the hydrocarbon sector, which has already led to arrests and property seizures in several provinces. The European Public Prosecutor’s Office (EPPO) says the investigation has uncovered a network of companies and financial transfers between Spain and Portugal.
The ministry notified Judge Santiago Pedraz of the Audiencia Nacional about the auction. If the court does not object within ten days, the sale will go ahead through the official state bulletin portal. The Ferrari, registered in March 2013, has not passed its technical inspection since August 2024 and has been under a legal freeze since October 2024, blocking any transfer or sale by court order.
The European Public Prosecutor’s Office estimates that over €27.9 million was funneled to Portugal through Spanish companies involved in the hydrocarbon VAT fraud network.
The Ferrari is not the only vehicle up for auction. Authorities are also preparing to sell three Land Rover SUVs seized from others linked to the alleged criminal network. The Asset Recovery and Management Office (ORGA), part of the Ministry of Justice, has valued these vehicles at €129,923, €54,886, and €14,553. The ministry has stated that none of the vehicles will be sold for less than half their appraised value, though prices may drop by up to 15% in later auctions if there are no buyers.
The crackdown follows an operation that resulted in 14 arrests and 11 searches of homes and company offices in Madrid, Salamanca, Cáceres, and other locations. Judge Pedraz is investigating charges of criminal organization, money laundering, and tax offenses. The case has drawn attention for its scale and for the involvement of people previously convicted in other scandals, including Aldama’s conviction by the Supreme Court in the so-called ‘mascarillas’ affair, which also involved former minister José Luis Ábalos. According to Spanish media, authorities believe Víctor de Aldama and businessman Claudio Rivas were key figures in the organization that benefited from the VAT fraud scheme.
Last year, ORGA recommended selling all 13 vehicles seized in the hydrocarbon fraud case, with a combined estimated value of €635,700. Judge Pedraz approved the sale, despite Aldama’s formal objection to the Penal Chamber of the Audiencia Nacional. In September 2025, the court dismissed Aldama’s complaint, ruling that the asset sale did not violate his presumption of innocence.
The total estimated damage from the hydrocarbon VAT fraud case exceeds €200 million for the period 2021–2024, highlighting the unprecedented scale of the operation and prompting authorities to intensify financial asset tracking across borders, particularly in Portugal.
In recent years, Spanish authorities have become more proactive in selling seized assets before final verdicts to prevent depreciation and ensure restitution. This approach is part of a wider push for efficiency and transparency in public administration, seen in other regulatory changes such as the recent overhaul of traffic light rules.
The auction of Aldama’s Ferrari is a clear example of the state’s approach to financial crime. By moving quickly to sell seized property, Spanish authorities aim to prevent proceeds of crime from sitting idle while cases move through the courts.
