The building in the British Virgin Islands where Ronaldo hid 150 million euros

The building in the British Virgin Islands where Ronaldo hid 150 million euros

Der Spiegel and El Mundo have revealed more details of Ronaldo's hidden image rights money

Der Spiegel and El Mundo published on Monday new details of Cristiano Ronaldo and Jorge Mendes' plot to avoid paying tax, thanks to Football Leaks. 

On this occasion, the two newspapers reveal the Caribbean cover used by the Real Madrid star to store 150 million euros without declaring the money to the Spanish tax authorities.

The tax haven hiding the 150 million is in the city of Road Town, the capital of the British Virgin Islands. It is a building on the ground floor of which there is a pharmacy, while on the first floor is the office of the law firm Icaza, Gonzalez Ruiz & Aleman.

"The place emanates confidentiality, opacity, secrecy. Something which forms part of the business model of the firm where companies of several football stars are registered," reports Der Spiegel. 

"[British Virgin Islands] is an archipelago of around 60 islands located about 100 kilometers east of Puerto Rico, an oasis in the middle of the Caribbean, with only 30,000 inhabitants, abundant sunshine and paradisiacal beaches -- where some 600,000 ghost companies are registered. A multimillionaire business that operates without scruples."

The information explains that the British Virgin Islands is administeting around 50 billion dollars. "Its status as a financial paradise is not by chance. Here they use dollars, which helps international monetary operations," says the newspaper.

Der Spiegel highlights that "Liz B. knows how this all works. One morning in November she gets out of her 4x4 early, shortly before 9am. The young lawyer still seems asleep. Liz is an expert in ghost companies and works in the office which process Cristiano Ronaldo's money, as well as other Jorge Mendes clients, such as Jose Mourinho. 

"Three of the companies used by the Portuguese footballer, Tollin, Adifore and Arnel, are handled by the office where she is employed. The lawyer refused to give any quotes and dodged questions, raising her hand defensively as she disappeared behind the door." 

And it concludes: "If Spanish inspectors travel to the building in Road Town, where above a pharmacy the player protects his money, he will have a problem." 

Topics with the letter