Foreign businessmen and lawyers facing 48 years in prison for tax evasion on Costa del Sol
Group of wealthy expats facing prison for failing to declare property purchases in Marbella
A NETWORK of foreign businessmen and lawyers are facing 48 years in prison for tax evasion on the Costa del Sol.
The group are to go on trial for using offshore companies to avoid paying taxes when making enormous property purchases.
Marbella lawyer Domingo Cuadra may face 12 years in prison, while Norwegian businessman Odd Reitan, number 291 on Forbes rich list and worth a cool €4.8 billion could serve 11 years.
Others involved include Idar Vollvik, a Norwegian telecommunications businessman who is very famous back in Norway having taken part in a dance reality TV show in 2014.
Marbella’s anti-corruption prosecutor is looking to impose €14 million in fines, €2.7 million in compensation and for bail to be set at a combined total of €27 million.
The case centres on firm Calvario 8 Administracion which changed its name to Cuadra Asociados, Servicios Legales, Fiscales y Contables in 2005.
Investigations suggest lawyer Cuadra, also currently under investigation in a separate tax fraud case from 2006, was fronting the operations.
Marbella lawyer and Olive Press columnist Antonio Flores said: “There is no reason, as far as owning property in Spain is concerned, to have an offshore company, a trust or similar set up.
“I have always been belligerent with offshore tax structures as their main purpose is to defraud or conceal money from the Tax Office, or from a creditor or a former spouse.”
