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Urdangarín embezzlement hearing continues: Tejeiro brothers testify
By:
thinkSPAIN , Friday, March 11, 2016

TODAY'S hearing (Friday) in which one of the three Tejeiro brothers involved in the Nóos Institute originally run by the King's brother-in-law Iñaki Urdangarín was due to testify has been suspended over concerns about whether his statements would break rules covering client confidentiality.

But yesterday, another of the three brothers, who were legal and financial advisors to the Institute, told the judge that Urdangarín and his co-director Diego Torres 'shared the profits 50-50' from events organised by the Nóos, gained through inflating invoices to the regional governments of Valencia and the Balearics.

Torres 'monitored every cent' of the Institute's finances and was 'obsessive' about the so-called non-profit association's accounts.

And Luis Tejeiro (pictured) insisted both Urdangarín and Torres knew who was employed by the Nóos and that the dormant estate agency company, Aizoon – co-owned by Urdangarín and his wife, the Infanta Cristina – did indeed have 'fake' employees.

In fact, Luis Tejeiro said he was one of them.

This appears to negate Urdangarín's claims that he did not know any of his staff personally.

“Urdangarín and Torres decided who to take on and who not, they were the bosses, and there was absolutely no supervision by the Royal Household,” Luis Tejeiro said categorically.

He also insisted he had known nothing about Royal Household secretary Carlos García Revenga's being involved.

And he says he does not know the Infanta Cristina, Urdangarín's wife.

All tax declarations, with the exception of the Infanta's, were handled by Luis' brother Miguel, whose hearing was suspended today.

Urdangarín and Torres had told the judge Miguel Tejeiro had met monthly with Royal Household tax advisor Federico Rubio, and that he and García Revenga oversaw their every financial move.

But Luis Tejeiro says Torres kept his own Excel spreadsheet of all the accounts, and that all financial data and invoices were sent to Torres' wife Ana – Luis, Antonio and Miguel's sister – and to Antonio, the accountant.

The four Tejeiros were 'part of the production line', Luis said, and Torres oversaw the whole process.

“All the companies involved [with the Nóos and Aizoon investigation] were run as if they were Diego's and Iñaki's own,” Luis insisted.

“And Iñaki knew exactly how the financial engineering of each one of them worked.”

Urdangarín has pleaded ignorance on this score and said he left it all in the hands of the Tejeiros, as they were employed to deal with the money side of the businesses.

“Diego and Iñaki invoiced each other to take money from their companies and keep it for themselves,” Luis Tejeiro continued.

He said none of the Tejeiro family advised Torres and Urdangarín on how to set up their businesses, as both have claimed before the judge, since they already had their own companies and 'knew what they were doing beforehand'.

“My brother Marco Antonio had no knowledge of accounting prior to 2008, so he never had any involvement with the Nóos' financial matters and had no autonomy or decision-making capacity – his function was, basically, administration.”

Later yesterday afternoon, sports law expert Juan Pablo Molinero, project leader for the office of the Balearic cycling team sponsored by the Nóos, denied that Urdangarín and Torres left the finances, invoices and estimates for him or anyone else to deal with and make decisions over.

“Torres and Urdangarín were the bosses, and in the Nóos Institute, nobody moved a piece of paper without their knowledge,” he insisted.

“At the Nóos, there were two bosses, and then the underlings. We used to call ourselves the 'Indians' and say we were on the prairie.”

The former employee of spin-off company Nóos Consulting says this and the Nóos Institute, supposedly non-profit which allowed it to benefit from public funding, were 'basically one and the same' and that the staff of both understood this to be the case.

The trial is set to continue next week, and may not be completed until as late as June.

 

Photograph by the court of Palma de Mallorca

 

 

 
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