The court convicted Carlos Luis Iglesias, brother of the Spanish singer Julio Iglesiasto six months in prison and payment of almost thirty million euros for defrauding the state treasury in Spain in an operation through companies in Panama, according to the verdict known this Tuesday.

The Provincial Court of Madrid issued that imprisonment and the payment of that amount as fines and compensation for the crime against the Spanish public treasury.

Except he also sentenced him to four years of not being able to receive public assistance and enjoy tax benefits and Spanish social security.

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The verdict considers it proven that, as a director of Rolimpa Trading Corporation, he did not report the sale in 2001 by this company of three plots of land in Madrid for 46.2 million euros, which he had previously bought in 1989 for a little over 600,000 euros.

The court understands that “From the expert’s report, it is proven that Rolimpa Trading Corporation should have reported the profit from the sale to the Spanish tax agency for corporate income tax.”

“The lack of registration and payment represents a fraud for the public treasury of 19,624,655 euros.”the amount that will have to be returned increased by default interest, is added in the decision that declares that company subsidiary civil liability in case of non-payment by the convicted person.

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The buyers of the land paid the purchase into the Panamanian bank account of another corporation, in which Carlos Luis Iglesias was authorized.

Rolimpa, a company founded in Panama in 1984, had property in Spain, so it had to pay profit tax for the year 2001 for that amount, because not having a tax residence in Spanish territory does not mean exemption from paying taxes, he emphasizes.

“Carlos Luis Iglesias, manager of Rolimpo, who made the decisions, is responsible for this obligation.“, the sentence is clarified, adding that to hide his identity as a taxpayer, he used intermediary companies, a tax haven such as Panama at the time, and fiduciary instruments.

The sentence, against which an appeal is allowed, imposes this sentence after applying the mitigating circumstance of unnecessary delay of the proceedings.

The prosecution demanded four years in prison and the payment of a fine of 98.2 million euros, while the prosecution of the State Attorney’s Office demanded ten years in prison and a fine in the amount of the defrauded amount, given that he also committed a money crime. laundering, although in the end it was tried only for tax fraud. (AND)