Zapatero Received €2.6 Million from Companies under Investigation and Chinese Capital. Police uncovered 174 transfers to former Prime Minister Zapatero’s accounts over five years. The senders included companies with Chinese capital and entities connected to ongoing investigations. The court has frozen part of the funds.
Spanish police have disclosed the details of financial transactions involving former Prime Minister José Luis Rodríguez Zapatero: between 2020 and 2025, his accounts received €2.6 million from 174 transfers linked to companies that became the focus of an investigation into alleged influence peddling. According to EL PAÍS, the senders included consulting firms, entities with Chinese capital, and organizations associated with the Acento group, which in Spain is led by former ministers José Blanco and Alfonso Alonso.
The investigation is paying particular attention to a transfer of €490,780 from the consulting company Análisis Relevante, through which, according to the court, businessman Julio Martínez Martínez operated. This is the amount that was frozen in Zapatero's accounts after his official indictment. The case files also mention other significant transfers: €851,180 from Kreab Iberia SL, €105,000 from Kreab Worldwide, €649,552 from Thinking Heads Groups (Spain), and €31,766 from the American subsidiary of the same company. Gate Center, where Zapatero chairs the board, transferred €352,980 to him. Police highlight that both Thinking Heads and Gate Center are linked to entrepreneur Daniel Romero-Abreu Kauf.
The UDEF report also notes that part of the funds from Gate Center and Thinking Heads was transferred to the accounts of Whathefav, a company owned by Zapatero’s daughters. Investigators were also interested in transfers from companies with Chinese capital: Chinalink Asia Holdings Limited sent €159,034, Yuewee International Trade Limited — €49,758, and the Spanish Mimo Advisors, associated with Acento Asia, — €104,410. Other notable transfers include €49,758 from the Zayed Award For Human Fraternity (an international prize from the UAE), €200,000 from the Peruvian Focus Social Research, and €53,000 from the Spanish Bright Digital Solutions.
According to police, all transfers were made to Zapadero's personal accounts. He repeatedly emphasized that he neither owned nor managed any companies, either in Spain or abroad. However, Judge José Luis Calama believes that the former prime minister might have been behind a scheme to manage companies through trusted associates, particularly through Martínez Martínez. The case file cites an example: in July 2021, Zapadero sent an entrepreneur a list of potential clients for Análisis Relevante, which included well-known Spanish, Chinese, and Venezuelan businessmen, as well as representatives of Plus Ultra — the airline under investigation for misuse of state aid.
The UDEF report also mentions a real estate operation: in February 2024, Zapadero and his wife purchased an apartment in Madrid for €580,000, taking out a €500,000 mortgage with Banco Santander. The loan was repaid early in January 2025 by a transfer from his wife's account. The former prime minister’s associates claim the funds came from selling another property and are not connected to any suspicious transfers.
Earlier in the investigation, police had already recorded Zapadero’s contacts with Plus Ultra’s management and Chinese investors, which were examined in detail in the report about the meetings and negotiations surrounding state support for the airline.
For reference: the case concerning alleged influence peddling became the first instance in modern Spanish history where a former prime minister came under official investigation on such charges. The focus is not only on transfers to Zapatero’s accounts but also on potential links between Spanish and foreign companies, as well as the role of former officials in the allocation of public funds. According to public sources, Kreab and Thinking Heads are major international consulting firms actively operating in the Spanish market, while Gate Center positions itself as an independent think tank. Questions about the transparency and justification of the transfers remain under judicial review.
