The Guardia Civil's Unidad Central Operativa (UCO) found that Servinabar, a company under investigation, tried to secure a high-end Madrid apartment for former PSOE Organization Secretary Santos Cerdán and his wife, Francisca Muñoz. The property, on Santa Cruz de Marcenado street, was valued at €985,000, information from the police report. The proposed terms included a €9,000 deposit, €180,000 due at contract signing and the remaining balance upon completion of the sale.
Investigators found that Cerdán visited the apartment with his wife during negotiations in late 2021. Basque businessman Antxon Alonso, who administered Servinabar, managed the process, conducting the talks and paying the initial deposit from a company account. The purchase fell through over disagreements about the handover conditions. Servinabar received the €9,000 deposit back in January 2022.
The property negotiations are part of a wider inquiry into Servinabar's ties to Cerdán, Alonso and public-sector contracts. Investigators have examined a private agreement reportedly drawn up in 2016, which said Cerdán acquired a 45% stake in Servinabar for €6,000. The UCO reportedly found the document at Alonso's home in 2025. Cerdán disputes its legal validity. Its existence has led investigators to scrutinize the company's contracts and payments, while assessing whether it brought potential benefits to Cerdán. The document alone does not establish criminal liability.
The investigation is being conducted at Spain's Audiencia Nacional, under Basic Court of Instruction No. 5, with Judge Santiago Pedraz overseeing the case. The UCO has examined alleged mediation involving contracts linked to companies associated with the state holding company SEPI. Those allegations remain under investigation, and no final judicial finding has been made.
The case adds to a series of financial questions surrounding PSOE-linked entities. In a related development, the UCO previously reported difficulties tracing the origins of suspected secret funds connected to the party, prompting calls for a comprehensive audit of its accounts. Details of these ongoing investigations are available in the report on the UCO's efforts to clarify PSOE's financial flows.
The attempted Madrid property purchase has drawn scrutiny to the financial dealings and asset management of political figures and their associates. The negotiations are one strand of a broader investigation into Servinabar and its public-sector business. The inquiry's findings and allegations remain subject to judicial assessment.
