PSOE-linked foundations face investigation over transparency failures

Documentation submitted by the Tribunal de Cuentas to National Court judge Ismael Moreno has revealed significant transparency deficiencies in several foundations linked to the PSOE. Of the eleven foundations identified, three failed to present complete accounts or economic reports for 2023, and six lacked the required external audit reports.

These findings occur as the judiciary investigates whether these entities were used to channel funds from unknown sources. The investigation highlights a legal distinction where party-linked foundations operate under a different regulatory regime than direct party financing, which is subject to stricter limits.

Specific concerns have been raised regarding the Pablo Iglesias Foundation, previously presided over by Santos Cerdán. The Tribunal de Cuentas had previously noted incidents and requested a sanitation plan following a negative balance in 2020, a period during which donations to the PSOE reportedly reached 840,000 euros.