Posted: Tuesday, November 24, 2020 9:24 a.m.
The King Emeritus is said to have been a shareholder for years in large Ibex 35 companies through his alleged instrumental company, the Zagatka Foundation, which he allegedly used to hide money of opaque origin in Switzerland.
This is what “ El Confidencial ” reveals this Tuesday, which brings together documents that show that the foundation – whose funds Juan Carlos I paid for thefts and other private expenses – owned shares of major Spanish banks and companies. , such as BBVA, Santander, Iberdrola, Repsol or Endesa, among others.
The accounts of the Zagatka Foundation in the Swiss financial institutions Credit Suisse and Lombard Odier – to which the aforementioned newspaper had access – show transactions in the purchase of millionaire shares since their inception in 2003 and until August 2018, when the investigation by the Geneva prosecutor’s office into the emeritus’ assets in this country.
Still according to “El Confidencial”, the money entered these accounts, presumably from the opaque commissions received by the king, and was immediately invested in the Stock Exchange and financial products. When the monarch wanted to dispose of it, the company sold some assets and increased the account balances.
Most of the companies Zagatka invested in – a company founded by a distant cousin of the king, Álvaro de Orleans, who denies its instrumental character – were Spanish, although there are also stakes in large companies in other countries – such as Danone, Allianz or Carrefour, among others – investment funds and bond purchases.
To illustrate the dizzying pace at which these investments were evolving, “El Confidencial” cites the movements of Zagatka’s account at Credit Suisse in early 2009, in the midst of an economic recession.
In the space of two months, the Foundation acquired 35,000 Iberdrola shares worth over 235,000 euros and received over 46,000 euros in dividends from Banco Popular, BBVA and Santander, as well as from the sale of securities of the construction company ACS.