Mansion owned by ex PP regional president searched on Mallorca

Mansion owned by ex PP regional president searched on Mallorca
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By m.p. - Nov 8, 2009 - 2:35 PM
An initial assessment of the contents puts their value at 2 million €

Officers taking part in the search of the mansion - EFE

The assets of the former Partido Popular President of the Baleares government, Jaume Matas, remain under investigation in the Palma Arena corruption case, and a search of a mansion he owns in Palma city centre was ordered last Friday. Some 20 Civil Guard took part in the five hour search and an initial assessment of the contents puts their value at 2 million €.

Matas bought the property for less than 1 million €, but experts from the Hacienda tax authority say its true market value would have been 2.4 million €. The investigation, dubbed ‘Buckingham’, aims to determine the source of what Hacienda sees as an unjustified increase in his assets. It’s understood that another search also took place of a property the former leader of the Baleares government owns in Madrid and of another in Palma where his children currently live.

Matas himself is now based in the United States.

Público notes that the Anti- Corruption prosecutor believes his increased assets are linked to the Palma Arena velodrome, the complex which ended up costing triple its original budget. Matas is due to declare as a suspect in that investigation in March.

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