A Ferrari F12 seized from businessman Víctor de Aldama is headed for auction at €241,613, Spain’s Ministry of Presidency, Justice and Relations with the Courts says. The sale is part of a broader effort to recover assets in a VAT fraud case involving the hydrocarbon sector, which has led to arrests and property seizures in several provinces. The European Public Prosecutor’s Office (EPPO) says investigators have uncovered a network of companies and financial transfers between Spain and Portugal. The EPPO estimates that more than €27.9 million was funneled to Portugal through Spanish companies involved in the network.
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 proceed through the official state bulletin portal. Registered in March 2013, the Ferrari has not passed its technical inspection since August 2024. A court order has kept it under legal freeze since October 2024, preventing any transfer or sale.
Authorities are preparing to auction the Ferrari alongside 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 the vehicles at €129,923, €54,886 and €14,553. The ministry says none will sell for less than half its appraised value, though prices may fall by up to 15% at 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 and money laundering, as well as tax offenses. The case has drawn attention for its scale and the involvement of people previously convicted in other scandals. They include Aldama, whom the Supreme Court convicted in the so-called ‘mascarillas’ affair, which also involved former minister José Luis Ábalos. Spanish media report that authorities believe Víctor de Aldama and businessman Claudio Rivas were basic figures in the organization that benefited from the VAT fraud scheme. The EPPO estimates that total damage from the hydrocarbon VAT fraud case exceeds €200 million for the period 2021 to 2024. The estimate reflects the unprecedented scale of the operation and has prompted authorities to intensify cross-border financial asset tracking, particularly in Portugal.
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 sale of the assets did not violate his presumption of innocence.
In recent years, Spanish authorities have stepped up sales of seized assets before final verdicts to prevent depreciation and ensure restitution. The approach is part of a broader effort to improve efficiency and transparency in public administration, reflected in other regulatory changes such as the recent overhaul of traffic light rules.
Selling Aldama’s Ferrari reflects the state’s approach to financial crime. Spanish authorities aim to keep seized property, and any proceeds from its sale, from sitting idle while cases move through the courts.
