Spain’s National Court has taken the extraordinary step of indicting former Prime Minister José Luis Rodríguez Zapatero in connection with the controversial Plus Ultra bailout, according to the case outlined in the investigation. The former Socialist leader is due to testify as a suspect on June 2 over allegations including money laundering, membership of a criminal organisation, misappropriation and influence peddling.
The investigation centres on the €53 million rescue package granted to the Venezuelan-linked airline Plus Ultra during the pandemic by the Spanish Government through SEPI, the state holding company. Police investigators from UDEF suspect that part of the bailout money may have been diverted through a network of companies, intermediaries and consultancy payments, allegedly benefiting individuals close to Zapatero and his family circle.
Judge José Luis Calama, of the National Court’s Investigating Court Number 4, lifted the secrecy order on the case and authorised several searches, including Zapatero’s professional office on Ferraz Street in Madrid and the premises of a company linked to his daughters. Investigators also requested information from firms connected to the bailout, including Softgestor and Apamate Corporate and Trust, both reportedly linked to Venezuelan capital.
At the heart of the inquiry is businessman Julio Martínez Martínez, a friend of Zapatero and external adviser to Plus Ultra. Investigators claim that Martínez received €458,000 from the airline through three companies between 2020 and 2025. According to police reports, similar amounts were allegedly paid to Zapatero for consulting work.
Zapatero has denied any wrongdoing. He maintains that all his income was legal, declared to the tax authorities and related to private strategic consultancy work. He has also denied any involvement in the granting of the Plus Ultra bailout.
However, investigators are focusing on the timing of the payments. Zapatero began billing Análisis Relevante, Martínez’s consultancy firm, in late 2020, just as Plus Ultra was seeking public aid. Internal documents allegedly refer to payments connected to “SEPI management” and report preparation during the bailout negotiations.
The case has widened to include claims of political lobbying. Former minister José Luis Ábalos, his son Víctor Ábalos, and businessman Víctor de Aldama have reportedly linked Zapatero to efforts surrounding the bailout. Investigators are also examining a September 2020 meeting involving Zapatero, then minister José Luis Escrivá and SEPI president Bartolomé Lora.
The probe also has an international dimension, with police examining whether funds may have originated from Venezuelan state-linked operations and were later laundered through Spanish companies.
Zapatero insists he had no role in the bailout. The court, however, believes the evidence is sufficient to question him as a suspect in what may become one of Spain’s most politically explosive corruption cases.
