Portugal linked to suspected hydrocarbon fraud investigation

In her book ‘Todos los hombres de Sánchez’, journalist Ketty Garat details international connections regarding a suspected hydrocarbon fraud involving José Luis Ábalos and his associates.

Garat describes a structure of shell companies and bank accounts located in Portugal used to facilitate tax evasion. Specifically, between September 2022 and March 2023, Víctor de Aldama allegedly established seven companies in Portugal, four of which were based in the city of Elvas.

The investigation, which includes references to reports from the Guardia Civil’s Central Operative Unit (UCO), suggests these entities were part of a broader operation to manage funds from the fuel business. A UCO report identified transfers of approximately 74 million euros of suspected illicit origin to Portugal, China, and Colombia.