The CEO and president of Plus Ultra and consultant Julio Martínez are released with light precautionary measures.

The three men were arrested last Thursday on the orders of the president of the Court of Instruction number 15, Esperanza Collazos, and placed in police custody after the required 72 hours.

Two years ago, Collazos investigated SEPI’s controversial rescue of Plus Ultra, which cost 53 million euros in loans that the airline repays.

An error by the investigator, who extended the procedure after the set deadline, led to the dismissal of this investigation, which had as its object an alleged misappropriation of funds and which was reopened after a complaint from the Anti-Corruption Prosecutor’s Office for other possible crimes: money laundering and fraud.

Late this morning, the president of Madrid’s Court of Instruction number 13 agreed to the provisional release of the three detainees.

As a precautionary measure, the magistrate accepted that the three people surrender their passports, with the consequence of being prohibited from leaving the national territory and the obligation to appear before the judicial body every two weeks.

The Court of Instruction number 13 inhibited itself in favor of the 15th, which declared the investigation secret.

Part of the investigation revolves around the alleged laundering of “illicit funds originating from acts of embezzlement committed by public officials in Venezuela for very high amounts.”

These criminal actions would be linked to the Chavista food programs (the so-called CLAP) already Gold Bank of Venezuela sales.

According to the anti-corruption complaint (which was initially addressed to the National Court, which did not recognize its jurisdiction), Plus Ultra allegedly signed loan contracts with companies linked to gold looting.

These loans were likely used to launder illicit funds on dates close to the airline’s receipt of the ransom.

The anti-corruption complaint also concerns a sale of gold, for an amount of 30 million euros, to a company in the United Arab Emirates, by one of the companies having signed the above-mentioned contracts.

The fight against corruption also referred to the movement of money to Panama and the sale of luxury watches for the purpose of money laundering.

The prosecution pointed to alleged fraud in the form of “inappropriate use of public assistance” (known as subsidy fraud).

Martínez Martínez, the consultant investigated, is a friend of former government president José Luis Rodríguez Zapatero, who has denied any connection with the Plus Ultra case.