Spain Ex-PM Zapatero Denies Bailout Scheme as Court Hunts His Crypto

Former Spanish Prime Minister José Luis Rodríguez Zapatero denied any role in an influence-peddling scheme linked to a €56 million ($61.5 million) airline bailout, testifying before a Madrid court on June 17. The court is simultaneously investigating his assets, including cryptocurrency holdings, according to people familiar with the probe.

Zapatero, who served as Spain's Socialist leader from 2004 to 2011, told judges he never used his position to steer public funds toward the unnamed carrier or to collect kickbacks. The bailout was approved in 2020 as part of a state rescue package for strategic industries hit by the pandemic.

Investigators are tracking funds they suspect moved through shell companies and into digital wallets. Court filings show the probe now extends to cryptocurrency exchanges where Zapatero or his associates may have held accounts. The former prime minister's lawyers have not commented on the asset search.

The case stems from a broader corruption investigation that has already ensnared several former officials. Zapatero's testimony lasted roughly two hours. He left the courthouse without addressing reporters. A ruling on whether to freeze additional assets is expected within weeks.