An entrepreneur in the sights of justice
The situation of a 72-year-old businessman from the United States has become complicated after his arrest in Ibiza at the beginning of July. He is wanted by US authorities for alleged tax fraud amounting to nearly $130 million.
Serious accusations against marriage
E.D. and his wife, D.L.D., 58, a French national, face 30 counts of tax evasion and other irregularities related to income exceeding $350 million, obtained through government contracts.
Joint operation that led to the arrest
The couple was arrested during a coordinated operation between the Spanish Civil Guard and the DEA on July 3, at their holiday home in Ibiza. The decision of the Central Court of Inquiry number 3 has been to keep E.D. in provisional prison without bail.
An elaborate fraud scheme
According to the US Department of Justice, the indictment reveals a scheme that would have lasted for years, with the alleged cooperation of other individuals. The man, who owned Mina Corp & Red Star Enterprises between 2003 and 2020, is accused of concealing profits from contracts with the US Department of Defense totaling more than $7 billion.
Hidden benefits and evasion strategies
The indictment claims that E.D. he hid income in bank accounts outside the country, using fraudulent documentation and attributing part of the business ownership to his wife, who, as a French citizen, was not subject to the same tax obligations as him.
An international plot of hidden money
In addition, the Department of Justice has indicated that until 2015, E.D. he had not paid taxes on the income he allegedly generated. He is also accused of filing false tax returns between 2007 and 2014, attributing his income to his wife, and later, until 2020, declaring that he only earned income as a consultant.
Transfers to tax havens
The suspect funds were allegedly transferred to accounts in Switzerland, the Bahamas, Singapore and the United Arab Emirates, with non-US entities created to conceal their origin. However, the authorities point out that E.D. he had control of the money, which was used to finance various businesses globally, including infrastructure projects and franchises.
Goods acquired with allegedly embezzled money
Among the assets acquired with the funds that would have been diverted, a villa in a ski area in Austria, a house in Ibiza, a terraced house in London and several yachts, all acquired through frontmen, stand out.
Reflections on the case
This case highlights the complexity and risks associated with international financial transactions and tax evasion. As the investigation progresses, more details about the evasion networks and the mechanisms used to hide the income are likely to be revealed.
