Plus Ultra investigation targets opaque accounts in Gibraltar

The Spanish National Court is investigating a suspected money laundering scheme linked to the public bailout of the airline Plus Ultra during the pandemic. Judge José Luis Calama is examining transfers that allegedly ended up in opaque bank accounts across Gibraltar, Switzerland, Montenegro, the United Kingdom, and Mauritius.

Dutch financier Simon Leendert Verhoeven, identified by investigators as the alleged financial mastermind behind the operation, is scheduled to testify this Friday. Verhoeven, who was arrested in Germany and extradited to Spain in September, is facing charges including misappropriation, influence peddling, money laundering, and membership in a criminal organization. He is currently under precautionary measures, including a passport seizure and a travel ban.

The investigation, supported by reports from the Economic and Fiscal Crime Unit (UDEF), suggests a structure used to channel funds from abroad to Plus Ultra through sham investment or loan contracts. Authorities are also investigating Rodolfo Reyes, a former director of the airline, who is suspected of ordering immediate transfers from company accounts to shell companies linked to Verhoeven.