June 13, 2024

Unraveling the Complex Money Laundering Scheme of Juan Ramón Collado: A Tarnished Legacy and Ongoing Investigations

2 min read
Andorra keeps over 100 million euros confiscated from lawyer of Peña Nieto, Juan Collado

A renowned lawyer, Juan Ramón Collado, has been at the center of an international money laundering investigation since 2015. The Spanish newspaper El País has obtained confidential reports that reveal a complex network of accounts in Andorra, with branches in Holland, Panama, and Hong Kong, used to conceal his fortune.

Collado, 60, had over 100 million euros seized in Andorra since the start of the investigation. He utilized a complicated scheme involving Banca Privada d’Andorra and Crèdit Andorrà to move his funds. Investigators suspect that the money may have belonged to Mexican political leaders. Collado had at least two accounts in Andorra with nearly 19 million euros in 2023, managing the rest through Dutch companies to shield his identity.

The lawyer invested over half of his assets in Andorra in variable income funds and shares of prominent companies. Simultaneously, the Andorran justice system targeted Collado’s associates, including his alleged frontman Jaime Jesús Sánchez Montemayor, who managed the financial aspects of Collado’s operations.

Collado’s lawyer in Andorra maintains that his client’s assets are legitimate and plans to challenge the money laundering investigation. The investigation also extends to Collado’s family members and associates, with suspicions of additional companies being used in the money laundering scheme.

In 2018, Collado’s fortune in Andorra suffered setbacks due to investigations by authorities. However, his arrest in Mexico City in 2019 led to the reopening of the case. The investigation revealed extravagant expenses by Collado, including private aircraft purchases and luxury property acquisitions. Judicial proceedings in Mexico have also implicated Collado in money laundering cases.

Despite representing high-profile clients such as former president Enrique Peña Nieto, Collado’s legal troubles have tarnished his reputation both in Mexico and Andorra. The ongoing investigations shed light on the intricate financial operations of a man once considered one of Mexico’s top lawyers.

In conclusion, Juan Ramón Collado’s involvement in international money laundering schemes has led him down a path that has tarnished his reputation as a prominent lawyer representing powerful Mexicans such as former president Enrique Peña Nieto. Despite having represented some of Mexico’s most influential figures during their time as heads of state or government officials

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