A Spanish court is hunting for the bitcoins of the former prime minister: the Zapatero case is gathering crypto traces.
A major corruption scandal in Spain has reached a new level — the investigation is now focusing on the cryptocurrency assets of former Prime Minister José Luis Rodríguez Zapatero. The politician, who previously denied any involvement in the schemes surrounding the airline Plus Ultra, now faces a direct warrant for the seizure of his digital wallets.
The Plus Ultra Case and the Offshore Trail
To recall, the investigation concerns state aid of $61.5 million granted to the airline Plus Ultra in 2021 through the state-owned enterprise SEPI. Zapatero is suspected of influence peddling, money laundering, tax crimes, and smuggling. A key point is an offshore company in Dubai, which, according to the court, was registered just eight days after the government approved this financial support.
At the court hearing on June 17, the former prime minister rejected all accusations, stating that the suspicious funds were legal payment for consulting and design services for his daughters' agency. He also emphasized that he has no assets outside Spain and gave a "voluntary general authorization" for a review of his property.
Crypto Seizures: From BTC to LTC
However, Judge José Luis Calama was not convinced by such statements. On May 18, he signed an order requiring Spain's economic police to locate and freeze any crypto wallets belonging to Zapatero containing Bitcoin (BTC) and Litecoin (LTC). This adds to already implemented measures, including the blocking of bank accounts and an audit of offshore structures.
Notably, if cryptocurrency is found, it will be moved to the specialized crypto vault Prosegur in Madrid, which operates under contract with judicial authorities for the seizure of digital assets. Judge Calama already has experience with high-profile cases, including the Madeira Invest scandal, which affected over 3,000 people.
My analysis: This precedent demonstrates how regulators and law enforcement agencies in Spain (and the EU in general) are moving from words to action in terms of controlling crypto assets. The use of blockchain tools for seizing and subsequently selling confiscated Bitcoins is becoming standard practice. For Zapatero, who publicly claims his "cleanliness," the search for his digital traces is not just a legal procedure but a serious reputational blow. If the court finds even a single satoshi linked to offshore schemes, it will destroy his main line of defense.