Former Dutch trust service provider IMFC Trust and Fund Services (IMFC) based in Amsterdam has appeared in Dutch and Spanish media as having allegedly facilitated bribery payments originating from Spain, transferred through the Dutch bank accounts of IMFC and paid out in cash to Algerian public officials as part of a public procurement project.

The case is being investigated by a Spanish investigating judge. [1]

The suspicions form part of a larger scheme. Spanish authorities launched an investigation into 20 Spanish officials to determine whether they secured contracts from foreign governments for Spanish construction companies, in return for bribes.

Among others, the investigation focuses on Pedro Gómez de la Serna and Gustavo de Arístegui, both high-level politicians of the ruling party Partido Popular. The latter is also a diplomat, resigning in late 2015 from his post as ambassador to India due to the allegations. [2]

Both have extensive experience as lobbyists and secured two major construction contracts for the Spanish company Elecnor. Both individuals were clients of the Dutch trust service provider IMFC.

In 2011 and 2012, IMFC invoiced an amount of almost EUR 1.65 million to Elecnor on behalf of the two politicians. According to the invoices, Elecnor was requested to transfer money to a Dutch bank account at ABN AMRO bank.

The bank account holder was a company called Castelino BV that had been incorporated by IMFC with the IMFC managing director acting as nominee director.

The money then allegedly moved through a letterbox company incorporated in the Dutch Antilles to reach their final destination in Algeria.

It is alleged that the money was then paid out in cash to Algerian public officials. According to the Spanish investigative authorities, these Algerian officials helped the politicians-gone-lobbyists-gone-politicians Serna and Gustavo secure public procurement contracts in Algeria for their client Elecnor.

1. See court documents ECLI:ES:AN:2016:7A Id Cendoj: 28079270052016200002 and ECLI:ES:AN:2016:45 Id Cendoj: 2807927005201620000, Investigative judges Madrid section 5, Nr. 12/2016, Jose de la Mata Maya as well as TI-Netherlands, Spaanse corruptie gefaciliteerd door Nederlands trustkantoor, August 2016 https://www.transparency.nl/nieuws/2016/08/spaanse-corruptie-gefaciliteerd-door-nederlands-trustkantoor/ and EL Mundo, Judge detects Aristegui and De la Serna’s Algerian connection, December 2016 http://bit.ly/2uoxRqT (accessed 9 February 2017).
2. The Hindu, Envoy quits as kickbacks scan rocks Spain, December 2014 http://bit.ly/2toRZce (accessed 9 February 2017).