Judicial victory for the steel magnate, José María Aristrain, after the Supreme Court revived the accusation against him for the largest tax fraud in the history of Spain. The High Court of Madrid has decided to confirm his acquittal in the case that investigated illegal maneuvers by the businessman in the sale of a flat to avoid losing the house. The judges acknowledge that there are “signs of simulation in the censored transfer of assets” in this second case but add that they are insufficient to estimate the appeals of the Public Prosecutor’s Office and the State Attorney’s Office and convict him.
In this case, the Tax Agency and the Public Prosecutor’s Office reported that the steel magnate, one of the 25 richest men in the country, implemented an illegal corporate strategy to avoid the seizure of a flat and pay less VAT. One of his companies, called Pioninin SL and controlled by him at 99.99%, was the owner of the exclusive property and found himself with a debt of 660,000 euros for the VAT of various works carried out in the house, which was not deductible.
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