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    Spanish WiFi Company Busted for Laundering Money Through Costa Rican Accounts

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    The Costa Rica News (TCRN) – The tax agency of Spain is investigating a company dedicated to providing internet services due to an apparent diversion of funds to ‘hidden accounts’ in Costa Rica.

    According to a publication from the newspaper El País, the investigation of the Spanish company Let’s Gowex began in February last year, with information concerning the years 2008, 2009 and 2010. According to the tax report, the accounts belong to Florence Maté, who is wife of the president of the company, Genaro Garcia.

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    “The first deposits date from June 2010, and in three cases it has been found that funds coming from capital increases by private investors have been masked as commercial operations.  Gowex also kept safes that have been used to deposit the cash until it was moved to Costa Rica for the benefit of the initial shareholders,” notes the publication.

    The investigation took nine months to determine the existence of bank accounts in Costa Rica, because they were hidden in the balance sheet. Once this bank account was found, alleged false documents, such as invoices, affiliates, customers, and reviews related to the activity of the company were also uncovered.

    “We have been able to verify significant falsehoods for different purchases and sales that occurred over the years,” they said.

    The wife of the company’s president is from Costa Rica and traveled back to the country once the news broke about the investigation against the company.

    The auditor of the company, Santiago Pedraz, was sent to prison yesterday and charged with a falsifying financial documents and financial guarantees. The official has not made his 200,000 euro bail yet.

    The Costa Rica News (TCRN)

    San Jose, Costa Rica

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