Legal representatives for 563 investors have petitioned the Spanish National Court to imprison the founder of the financial firm Herrero Brigantina. The request follows allegations that the company orchestrated a pyramid scheme resulting in 25 million euros in losses for the represented clients.
Key Case Developments
- Imprisonment request: Attorney José Luis Ortiz has asked Judge Santiago Pedraz to order provisional prison for Juan González Herrero, the firm’s founder, alongside a two-million-euro bail requirement.
- Pyramid scheme allegations: González Herrero has been under investigation since July 2024 for an alleged 200-million-euro pyramid scheme.
- Continued operations: Reports indicate the businessman continues to solicit new clients despite the ongoing investigation, offering promises to triple investments within 15 days.
- Hidden assets: Leaked audio recordings suggest the founder may be concealing funds abroad and expressed concern that discovery of these assets could jeopardize a potential plea deal with prosecutors.
Legal Action Follows New Allegations
The formal request for detention comes immediately after media reports revealed that the company’s operations remain active. Despite facing criminal charges, the firm continues to market financial products to potential investors. The court filing by attorney José Luis Ortiz aims to halt these activities and secure compensation for those affected by the alleged scheme.
Concerns Over Hidden Capital
Court documents and recent disclosures highlight concerns regarding the location of the firm’s assets. In recordings released by investigators, González Herrero reportedly acknowledged the existence of offshore funds. He noted that the disclosure of this capital to judicial authorities could negatively impact any future negotiations or plea agreements with the public prosecutor’s office. The court is now reviewing the request to determine if protective measures, including incarceration, are necessary to prevent further financial harm or the dissipation of assets.